AZ HB2485

Adds tax lien foreclosures under title 42, chapter 18 as an exemption from subdivision disclosure requirements, along with existing foreclosure sale, trustee deed of sale, and deed-in-lieu exemptions.

Prohibits tax lien investors who receive properties from tax lien foreclosure from claiming the exemption if they plan to offer subdivided lands to buyers not required to complete a public report.

Limits the exemption for tax lien investors to those acting in a manner similar to regulated financial institutions under title 6.

Clarifies that the foreclosure exemption does not allow circumvention of subdivision article requirements and does not apply to all tax lien investors equally.

Changes terminology from "per cent" to "percent" in the definition of principal ownership interests.