BMO Harris Bank, N.A. v. Wildwood Creek Ranch, LLC

Chief Justice BALES,

opinion of the Court.

¶ 1 Arizona’s residential anti-deficiency statute, A.R.S. § 33-814(G), applies to certain property utilized for a dwelling. We hold that the statute does not bar a deficiency judgment against an owner of vacant property. For § 33-814(G) to apply, a dwelling must have been completed.

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¶ 2 Shaun and Kristina Rudgear own Wild-wood Creek Ranch, LLC. In 2006, the Rud-gears, through Wildwood, borrowed $260,200 from the predecessor to BMO Harris Bank to fund construction of a home on a vacant 2.26-acre lot. The loan was secured by a deed of trust and…