Long v. Corbet

OPINION

NOYES, Judge.

This issue is whether a creditor who has received excess funds from a trustee’s sale held by a senior creditor is precluded by Arizona’s anti-deficiency statute, Ariz.Rev. Stat.Ann. (“A.R.S.”) section 3S-814(G), from pursuing a guarantor for satisfaction of the remainder of the debt. Because we conclude that the anti-deficiency statute does not apply in this situation, we affirm the trial court’s grant of summary judgment to the creditor.

FACTS AND PROCEDURAL HISTORY

In August 1985, Appellee W.D. Long (“Long”) loaned $50,000 to Dominican Farming Enterprises, an Arizona…