AZ SB1441

Corporations and limited liability companies owning 10 or more single-family residences in Arizona must register with the Corporation Commission before purchasing additional homes, disclosing business names and beneficial owners.

Purchases by corporations or LLCs are capped at 5% of single-family homes in any census tract, 50 units per calendar year, and a maximum of 2,000 total single-family residences statewide.

County recorders cannot record deeds for covered corporate purchases without a certificate of registration, and deeds must state the property is not the owner's primary residence.

Civil penalties up to $20,000 per violation may be imposed for failure to register or providing misleading information, with collected penalties deposited into the state housing trust fund.

Exemptions apply to entities owning fewer than 10 single-family homes, government entities, 501(c)(3) nonprofits, land trusts, certified group homes, and employers renting to employees.