AZ HB2351

Increases homestead exemption value from $250,000 to $450,000 for persons at least 18 years of age residing in Arizona.

Applies the increased exemption amount to real property dwellings, condominiums, cooperatives, mobile homes, and mobile homes with land.

Maintains the limit of one homestead exemption per single person or married couple, with the value referring to equity held in the property.

Specifies that for divorced couples who previously lived together, the combined exemption for either or both persons cannot exceed $450,000 in value.

Makes the exemption increase effective immediately upon enactment for both previously recorded homestead claims and those claimed by operation of law when creditors attempt to enforce judgments or liens.