Arizona § 44-1001 - Definitions
Full text of Arizona Arizona Revised Statutes § 44-1001 — Definitions, with citation guidance and answers to common questions.
§ 44-1001. Definitions
In this article, unless the context otherwise requires:
1. "Asset" means property of a debtor, but asset does not include any of the following:
(a) Property to the extent it is encumbered by a valid lien.
(b) Property to the extent it is generally exempt under nonbankruptcy law.
(c) An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
2. "Claim" means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured.
3. "Creditor" means a person who has a claim.
4. "Debt" means liability on a claim.
5. "Debtor" means a person who is liable on a claim.
6. "Lien" means a charge against or an interest in property to secure payment of a debt or performance of an obligation and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common law lien or a statutory lien.
7. "Person" means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust or any other legal or commercial entity.
8. "Property" means anything that may be the subject of ownership.
9. "Transfer" means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease and creation of a lien or other encumbrance.
10. "Valid lien" means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings and that is not subject to avoidance under this article.
Frequently Asked Questions About Arizona § 44-1001
What does Arizona Revised Statutes § 44-1001 cover?
Section 44-1001 ("Definitions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 44-1001?
A common citation format is "Arizona Revised Statutes § 44-1001" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 44-1001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.