Arizona Bank & Trust v. James R. Barrons Trust

OPINION

CATTANI, Judge:

¶ 1 This case addresses whether Arizona Revised Statutes (“A.R.S.”) § 33-814(0), which precludes an action to recover a deficiency on a qualifying residential deed of trust, applies to guarantors in the same manner in which it applies to borrowers.1 This court previously held that anti-deficiency protections under § 33-814(G) apply to and cannot be waived by borrowers; we left unanswered, however, whether guarantors are protected by § 33-814(G) as well and, if so, whether guarantors can waive that protection. We now hold that, assuming § 33-814(G) applies to guarantors,…