Articles are organized by categories listed below.
In Southwest Non-Profit Housing Corp. v. Nowak, Southwest, a company which buys distressed properties and rehabilitates them for resale, sued 3 appraisers for negligence in the preparation of appraisals of 3 separate properties, alleging that the negligent appraisals had caused the lenders to refuse to fund the loans when the appraisals on the prop Read More
In Focus Properties v. Cleo Johnson Division One of the Court of Appeals considered the Appeal of Cleo Johnson, who, in her capacity as Trustee of Oak Acres Trust had hired Kantor of Focus Properties to lease/sell her commercial property in Apache Junction. Kantor had put in many hours to aid Johnson in rehabilitating the … Read More
In May of this year, Division One of the Court of Appeals sided with a property owner against the City of Phoenix in City of Phoenix v. Garretson. In building its light rail system, the City had condemned property of Garretson which abutted Jefferson Street. As part of the condemnation proceedings, Garretson sought “severance” damages &hell Read More
In Belen Loan Investors, Inc. v. Bradley, the Court of Appeals in Tucson extended the duty of appraisers to those purchasing commercial properties. Prior law had indicated that when a homeowner is entitled to receive an appraisal as part of his due diligence in investigating a home for purchase, the homeowner may have a cause … Read More
In January of this year, in BMO Harris Bank v. Wildwood Creek Ranch, LLC, Division One of the Court of Appeals ruled that Arizona’s anti-deficiency law does not apply to vacant land, even if the owner intends to build a dwelling on the land which would otherwise qualify for the protection of the anti-deficiency statute. … Read More