Professional Documents
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Doug Little - Deed of Trust
Doug Little - Deed of Trust
Doug Little - Deed of Trust
NOTICE ToOwnersofResidentialRentalPropertyinMaricopaCounty
1 1. Rental Registration. UnderA.R.S.331902 anownerofaresidentialrentalpropertyinMaricopaCounty mustregistercertaininformationrelatingtothepropertyanditsownershipwiththeMaricopaCountyAssessor.ALL owners of residential rental properties must register their propertiesregardless of whether the tenant is a family member. Under the statute, outofstate owners must designate a statutory agent who lives in Arizona who will accept legal service on behalf of the owner. Whether organized in Arizona or elsewhere, a corporation, limited liability company, partnership, limited partnership, trust or real estate investment trust must not only designate a statutoryagent,butmustalsoregisterthename,addressandtelephonenumberofboththeownershipentityanda principalwithintheentityassetforthintheregistrationform
FailuretoregisterthepropertyortotimelyupdateanyinformationrequiredbyA.R.S331902maysubjectthe ownertopenaltiesandotherconsequencesasprovidedinthestatute.Anownermayregisterhisrentalpropertyat thelinkprovidedbelow.Theregistrationmaybefiledelectronically,bymailorbyfacsimile.Aregistrationmaybe rejectedifitdoesnotprovidealloftheinformationrequested. http://www.maricopa.gov/Assessor/Residential_Property_Form.aspx 2. Classification. TheAssessorclassifiespropertybaseduponitsuse.Owneroccupiedresidentialpropertiesand 2 residentialpropertiesbeingrentedtoqualifyingfamilymembers(A.R.S.4212053)areclass3properties(A.R.S. 4212003). Residentialpropertiesbeingrentedtopersonsotherthanqualifyingfamilymembers,orthattheowner intendstorenttononqualifyingfamilymembers,areclass4(A.R.S.4212004). The Assessor will classify a residential property as class 3 or class 4 dependent upon the best information availabletoit.WhentheownerofarentalresidentialpropertyregistersitspropertywiththeAssessorunderA.R.S 331902asprovidedinparagraphNo.1above,theAssessorwillassumethatthepropertyisbeingrentedtoanon qualifying family member and will classify the property as a class 4 property unless the owner indicates on the registrationformthatthepropertyisbeingrentedtoaqualifyingfamilymember. Ifapropertyownerisrentingaresidentialpropertytoanonqualifyingfamilymemberorisattemptingtodoso, and the Assessor has that propertymisclassified as a class3 owneroccupied property, the ownermust notify the Assessorofthemisclassification. A.R.S.4215103. TheownercannotifytheAssessorofthemisclassificationby callingtheAssessorsOfficeat6023720717.IfanownerfailstonotifytheAssessorofthemisclassification,and failstorespondtosubsequentwrittenqueriesfromtheAssessor,theownermaybesubjecttopenaltiesasprovided inA.R.S.4212052. If,ontheotherhand,aresidentialpropertyisoccupiedbytheownerorisbeingrentedtoaqualifyingfamily member,andtheAssessorhasthepropertymisclassifiedasaclass4rentalproperty,theownershouldnotifythe AssessoratthetelephonenumberprovidedaboveandtheAssessorwillcorrecttheclassification.