AZ HB2848

Requires corporations and limited liability companies purchasing single-family residences to register with the Corporation Commission's Securities Division and submit a certificate of registration to the county recorder before the deed can be recorded.

Limits corporate and LLC purchases of single-family residences to no more than five percent of a county's total single-family residences, with an additional cap of 100 units per year in counties with populations of 400,000 or more.

Exempts from registration requirements entities owning fewer than 10 single-family residences, governmental entities, 501(c)(3) nonprofit organizations, land trusts, group homes, and employers renting to employees.

Imposes civil penalties of up to $20,000 per violation for corporations or LLCs that fail to register or provide misleading information, with penalties deposited into the housing trust fund.

Requires deeds for corporate or LLC-owned single-family residences to clearly state the property is not the owner's primary residence and mandates annual reporting by the Corporation Commission on all corporate and LLC purchases and sales by zip code.