Cancellation of Notice of Trustee's Sale
(Nonjudicial Foreclosure) (AZ)

Summary

This cancellation of notice of trustee's sale form may be used to cancel a scheduled trustee's sale in Arizona. This form contains practical guidance and drafting notes. This form may be used in connection with the nonjudicial foreclosure of commercial or residential real property. Before property in Arizona can be sold at a trustee's sale, the trustee must prepare for recording a notice of trustee's sale setting forth, among other items, the date, time, and place of the sale. For a form, see Notice of Trustee's Sale (Nonjudicial Foreclosure) (AZ). Before 5 P.M. on the last business day prior to the sale date, the trustor, the trustor's successor-in-interest, and any person having a subordinate interest may reinstate the loan and cancel the pending sale by paying the beneficiary, the trustee, or the trustee's agent the past due amounts then due under the contract (without acceleration), together with the costs and expenses in conducting the sale. Permissible costs are: • The cost of the title report • The costs of mailing photocopying, recording, posting, and publishing required documents • Any postponement fees • Auctioneer fees • Trustee's fees in an amount not to exceed $600.00 or one half of one percent of the outstanding balance (whichever is greater) –and– • Allowable attorney fees incurred in protecting and preserving the beneficiaries interest in the real property Upon payment, the trustee records a cancellation of sale and the contract is deemed reinstated. Ariz. Rev. Stat. § 33-813(B). A form of cancellation of sale is incorporated in Ariz. Rev. Stat. § 33-813. This form tracks the statutory form. For further guidance, see Commercial and Residential Foreclosure (AZ) and Foreclosure Resource Kit (AZ).