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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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In the state of Arizona on unimproved property that is going

Resolved Question:

In the state of Arizona on unimproved property that is going into foreclosure: can the bank attach 1. my LLC 2. my C corp and 3. my retirement to satisfy the debt?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

Thank you for your question. I am happy to assist you.

I am a lawyer with 25 years experience. While I am not your lawyer and do not represent you, I will endeavor to provide you with legal information through this open and nonconfidential forum.

Unfortunately Arizona's anti-deficiency laws do not extend to unimproved property. Therefore a deficiency judgment may be entered for the unsatisfied portion of the loan. The lender may use the deficiency judgment to attach your LLC and your C. Corp. Retirement funds typically cannot be attached
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