Indexing Trust Deeds Like Mortgages
County recorders maintain public indexes of recorded documents. Anyone can search for liens, encumbrances, and ownership records affecting a piece of property. This statute makes sure that deeds of trust fit into the existing mortgage indexing system. That makes them easy to find in a title search.
Every trust deed, substitution of trustee, notice of resignation of trustee, request for notice, assignment of beneficial interest under a trust deed, notice of sale, cancellation of notice of sale or deed of release entitled to recordation under the provisions of this chapter shall be indexed in the same manner as mortgages, with the trustor indexed as mortgagor, and if the name of the beneficiary appears on the instrument being recorded, his name or that of his successor shall be indexed as mortgagee.
A.R.S. § 33-815The practical effect is simple. When a title company or attorney runs a property search, trust deed documents appear in the same mortgage index. They do not end up in a separate system. The trustor (the borrower) appears under the mortgagor column. The beneficiary (the lender) appears under the mortgagee column. If the beneficiary's name is not on the recorded document, the trustee's name is indexed as the mortgagee instead.
Why Consistent Indexing Matters
Accurate indexing protects everyone involved in a real estate transaction. Buyers can confirm whether a property has outstanding liens. Lenders can verify their security interest is properly recorded. Title insurance companies rely on these indexes to issue policies.
A deed of trust that is not properly indexed could be missed in a title search. That would create problems for both the lender and future buyers. This statute removes that risk by requiring a uniform indexing method across all Arizona counties.