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AZ HB2754

Bill

Status

Introduced

2/8/2024

Primary Sponsor

Patricia Contreras

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - Second Regular Session (2024)

AI Summary

  • Requires escrow agents to record a notice of pending sale before receiving funds for real estate transactions and notify all parties listed in the transaction agreement.

  • Mandates that individuals recording deeds and other real property documents provide two valid forms of government-issued photo identification to the recorder, with exceptions for escrow officers, title insurers, banks, attorneys, and governmental entities.

  • Establishes a county assessor notification system allowing real property owners to file notarized affidavits restricting mailing address changes to authorized persons only.

  • Requires real estate licensees and wholesale buyers to verify valid government-issued photo identification of parties to employment agreements and real estate transactions, retaining evidence of identification type and expiration dates.

  • Mandates notary publics to record thumbprints in journals for power of attorney documents and deeds affecting real property, with exceptions for foreclosure trustees' deeds and deeds of reconveyance.

Legislative Description

Real estate transactions; identification; recordings

Real Estate

Last Action

House read second time

2/12/2024

Committee Referrals

Rules2/8/2024
Commerce2/8/2024

Full Bill Text

No bill text available