12.2 Federal Stay.

JurisdictionArizona

Federal law, specifically 12 U.S.C. § 1825(b)(2), provides that when acting as a receiver, no property of the Federal Deposit Insurance Corporation (FDIC) may be subject to foreclosure without the consent of the FDIC. While § 1825 deals broadly with certain federal exemptions from state and local real property taxation, it is uncertain whether the statutory provisions would apply to nontax foreclosures such as trustee’s sales and judicial foreclosures. It has been held that the...

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