33-1072 - Arizona Statutes

33-1072. Lien attachment; notice of commercial real estate broker lien; notice to owner A. A lien pursuant to this article attaches to the subject real property when all of the following occur: 1. The broker produces a person or entity that is ready, willing and able to lease or rent the real property on the terms provided in the written agreement between the broker and the owner of the real property or on terms that are otherwise acceptable to the owner as evidenced by a written instrument that is signed by the owner. 2. The broker fully complies with subsection B of this section. 3. The broker records a document entitled "notice of commercial real estate broker lien" in the office of the county recorder in the county or counties in which the subject real property is located. The notice of commercial real estate broker lien shall be recorded as follows: (a) Except as provided in subdivision (b), if the notice of commercial real estate broker lien is based on a lease or rental of the real property, the notice of commercial real estate broker lien shall be recorded within ninety days after the tenant takes possession of the leased premises. (b) If the notice of commercial real estate broker lien is based on compensation that is to be paid in installments and any of those installments are due after the lease or rental of the real property, the notice of commercial real estate broker lien shall be recorded within ninety days after the tenant takes possession of the real property and is valid only to the extent that monies remain unpaid by the owner of the real property to the broker. B. On recording the notice of commercial real estate broker lien, the broker's lien is perfected. C. Not later than fifteen days before the date that the tenant takes possession of the leased premises, the broker shall record a document entitled "broker's preliminary notice of intent to lien" in the office of the county recorder in the county in which the real property is located and shall deliver personally or by first class mail a copy of the broker's preliminary notice of intent to lien to the owner of the real property interest. The broker's preliminary notice of intent to lien shall state that the broker is entitled to compensation under the terms set forth in the written agreement between the broker and the owner and that the broker intends to claim a lien on the real property. The broker's preliminary notice of intent to lien shall include all of the information prescribed by section 33-1073, subsection A and shall be entitled "broker's preliminary notice of intent to lien". The broker's failure to record the broker's preliminary notice of intent to lien within the time prescribed by this subsection extinguishes the broker's lien rights.