A.R.S. § 33-801

Key Definitions for Arizona Deeds of Trust

Verified April 4, 2026 • 57th Legislature, 1st Regular Session

This statute defines the essential terms used throughout Arizona's deed of trust chapter. It establishes what a deed of trust is, who the trustee, trustor, and beneficiary are, and what qualifies as trust property. These definitions set the foundation for every other provision in the chapter.

Title 33, TRUST DEEDS

azleg.gov

What a Deed of Trust Actually Is

In Arizona, most real estate loans are secured by a deed of trust rather than a traditional mortgage. The difference matters. A deed of trust involves three parties: the borrower (trustor), the lender (beneficiary), and a neutral third party (trustee) who holds legal title as security until the loan is paid.

"Trust deed" or "deed of trust" means a deed executed in conformity with this chapter and conveying trust property to a trustee or trustees qualified under section 33-803 to secure the performance of a contract or contracts.

A.R.S. § 33-801(8)

This three-party structure is what allows Arizona to use a non-judicial foreclosure process. Because the trustee already holds title, there is no need to go to court to foreclose. The trustee can sell the property through a trustee's sale if the borrower defaults.

The Three Parties and What They Mean

The trustor is the property owner who borrows money and conveys the property as security. The beneficiary is the lender or the person the loan benefits. The trustee is a qualified individual or entity that holds title in trust until the debt is satisfied.

"Trust property" means any legal, equitable, leasehold or other interest in real property which is capable of being transferred, whether or not it is subject to any prior mortgages, trust deeds, contracts for conveyance of real property or other liens or encumbrances.

A.R.S. § 33-801(9)

The definition of trust property is deliberately broad. It covers virtually any transferable interest in real estate, including property already encumbered by other liens. This flexibility allows deeds of trust to be used for second mortgages, home equity lines of credit, and other secured lending arrangements.

In this chapter, unless the context otherwise requires: 1. "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or the person's successor in interest. 2. "Business day" means any day other than a Saturday or a legal holiday. 3. "Cash" means United States currency. 4. "Contract" means a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty, including but not limited to a note, a promissory note or provisions of any trust deed. 5. "Credit bid" means a bid made by the beneficiary in full or partial satisfaction of the contract or contracts which are secured by the trust deed. 6. "Force majeure" means an act of God or of nature, a superior or overpowering force or an event or effect that cannot reasonably be anticipated or controlled and that prevents access to the sale location for conduct of a sale. 7. "Parent corporation" means a corporation which owns eighty per cent or more of every class of the issued and outstanding stock of another corporation. 8. "Trust deed" or "deed of trust" means a deed executed in conformity with this chapter and conveying trust property to a trustee or trustees qualified under section 33-803 to secure the performance of a contract or contracts. 9. "Trust property" means any legal, equitable, leasehold or other interest in real property which is capable of being transferred, whether or not it is subject to any prior mortgages, trust deeds, contracts for conveyance of real property or other liens or encumbrances. 10. "Trustee" means an individual, association or corporation qualified pursuant to section 33-803, or the successor in interest thereto, to whom trust property is conveyed by trust deed. 11. "Trustor" means the person conveying trust property by a trust deed as security for the performance of a contract or contracts, or the successor in interest of such person.

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This page provides general legal information about Arizona statutes and is not legal advice. For guidance on how this law applies to your situation, speak with a qualified attorney.

Related Statutes

§ 33-802How Trust Property Must Be Described in an Arizona Deed of Trust

§ 33-803Who Can Serve as a Deed of Trust Trustee in Arizona

§ 33-804How a Successor Trustee Is Appointed on an Arizona Deed of Trust

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