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AZ SB1715
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Priya Sundareshan
Click for details
AI Summary
- Requires real estate broker licensing for anyone acting as a "wholesaler" or "equity purchaser" of distressed residential property as defined in section 44-5101
- Removes exemption for corporations, partnerships, and limited liability companies dealing in their own property if they receive assignment fees, profit, or other consideration for the transactions
- Establishes that violating the broker licensing requirement constitutes an unfair act or unlawful practice under Arizona's consumer fraud statutes (section 44-1522)
- Repeals the existing article 1 of title 44, chapter 15.1 (relating to distressed residential real estate) and replaces it with a new article 1
- Clarifies that residential leasing agents must be performing "residential leasing activities" and limits their scope of permitted unlicensed work
Legislative Description
Distressed residential real estate
Last Action
Senate read second time
2/9/2026
Committee Referrals
Rules2/5/2026
Finance2/5/2026
Full Bill Text
No bill text available