Legal Question in Real Estate Law in Arizona

Re: TRO & Prelimenary Injunction

This appears to be a complicated matter that is not capable of a full opinion in this limited format, and with the limited facts presented.

One fact you did not mention. Is the first position deed of trust a blanket deed over all the lots, or is there one for each lot? I am guessing that there is one blanket deed of trust, but cannot tell. That makes a difference possibly.

We cannot pass judgment on another attorney's opinion, when he has all the facts, documents, pleadings, discovery papers and research at hand. Unfair to second guess in this situation.

If individual deeds of trust (again, I bet it isn't that way but cannot know) then you have a stronger position.

You may also have the option of a reorganization in bankruptcy court, which might allow you to do what you want if the civil court will not. That option needs to be investigated. I do not know if your investment position is held by you personally or by a corporation or LLC.

I would think you would have options. Some may be a little ugly, but better than losing all.

You might want to get a second opinion from someone who can review all the facts, documents and the court file.

Good luck. Sorry for your situation. A real estate downturn always clips some investors and property owners who have leveraged into properties without the ability to hold long, because they hoped to hold short in a rising market.

Best regards,

James D. Jenkins