33-1023 - Arizona Statutes

33-1023. Sale of property; disposal of proceeds A. Except as provided in section 33-1021.01, when possession of any property described in this article or any other personal property held under lien without provision at law for foreclosure of the lien has continued for twenty days after the charges accrue and remain unpaid, the person holding the property may notify the owner, if in the county where the property is located, to pay the charges. Upon failure of the owner within ten days thereafter to pay the charges, the holder of the property may sell it at public auction and apply the proceeds to payment of the charges. The balance of the proceeds shall be paid to the person entitled thereto. If the owner's residence is not in the county where the property is located, the holder is not required to give the ten days' notice before proceeding to sell. B. Five days' notice of sale shall be given to the owner if he can be found, and if not, then by two publications in a newspaper published in the county. C. If the person legally entitled to receive the balance is not known or has removed from the county, the holder shall pay the balance to the department of revenue. If the party, at any time within two years from the date of payment to the department of revenue, establishes his right to the money to the satisfaction of the director of the department of administration, it shall be paid to him. After two years, all unclaimed monies shall be deposited in the permanent state school fund.