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AZ HB2763
Bill
Status
2/5/2024
Primary Sponsor
Oscar De Los Santos
Click for details
AI Summary
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Limits corporations, limited liability companies, and their affiliates to purchasing no more than 100 single family residences per calendar year in Arizona.
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Requires entities purchasing single family residences to register with the Securities Division of the Corporation Commission and obtain a certificate of registration before purchase, with exemption for entities owning fewer than 10 residences in the state.
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Requires county recorders to include deed ownership information from the Corporation Commission registry and a statement that the residence is not the owner's primary residence before recording a deed for such purchases.
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Exempts from the 100-unit annual cap sales of newly constructed residences and transfers of residences within the same corporation or limited liability company.
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Directs the Corporation Commission to establish and maintain a publicly available registry of all corporations, limited liability companies, and affiliates that purchase or own single family residences in Arizona.
Legislative Description
Single family residence purchases; limitations
Real Estate
Last Action
House read second time
2/6/2024