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HB2842 - 572R - I Ver
REFERENCE TITLE:
property sale; notice; escrow agents
State of Arizona
House of Representatives
Fifty-seventh Legislature
Second Regular Session
2026
HB 2842
Introduced by
Representatives
Contreras P: Biasiucci, Bliss, Cavero, Connolly, Crews, Fink, Gillette,
Gutierrez, Hernandez A, Hernandez C, Keshel, Liguori, Sandoval, Villegas;�
Senator Carroll
AN
ACT
amending title 6, chapter 7, article 3,
arizona revised statutes, by adding section 6-841.04; amending section 32-2107,
arizona revised statutes; relating to real estate.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 6, chapter 7, article 3,
Arizona Revised Statutes, is amended by adding section 6-841.04, to read:
START_STATUTE
6-841.04.
Notice of escrow services requested; notice; methods of providing
notice
When an escrow agent either receives an order
for escrow services to transfer ownership of real property through sale or
inheritance and creates a preliminary title report or, five days before
recording a title if recording the title is being handled by the escrow agent
as a courtesy, transfers ownership or places a lien on the real property, the
escrow agent shall transmit all of the following to the department on a form as
prescribed by the department:
1. The names of all owners.
2. The assessor parcel number.
3. The mailing address of the actual,
physical location of the real property, if one exists.
4. The name of the escrow company.
5. The email address and phone number
of a contact at the escrow company for the property that is being sold.
END_STATUTE
Sec. 2. Section 32-2107, Arizona Revised
Statutes, is amended to read:
START_STATUTE
32-2107.
Powers and duties of commissioner; compensation; administration
of department; seal; real estate department education; revolving fund
A. The commissioner shall have charge of the
department with power to administer it in accordance with
the
provisions of
and to carry out the purposes of this chapter.� The
commissioner shall adopt a seal
which shall bear
that bears
the words "real estate commissioner, state of
Arizona",
which shall be
and that is
used
for the authentication of
to authenticate
proceedings
of the department and the official documents thereof. The
commissioner's principal office shall be at the state capitol. The
commissioner may have branch offices the commissioner deems necessary in other
cities.
B. The commissioner shall receive compensation as
determined pursuant to section 38-611.
C. The commissioner shall prepare and cause to be
produced and circulated among the licensees and the general public educational
matter the commissioner deems helpful and proper
for the guidance
and assistance of
to guide and assist
both
licensees and the public. The commissioner may assess a fee for each
of these educational products that does not exceed a level reasonably estimated
to be sufficient to recover production and distribution costs.
D. In cooperation with industry educators, content
experts and other professionals, the commissioner may develop, sponsor or hold educational
seminars and workshops for the benefit of licensees.
E.
A
The
real
estate department education revolving fund is established consisting of monies
received from the sale of educational matter under subsection C of this section
and grants of monies to be used in the production of educational
products. Monies in the fund shall be used
for the
printing of
to print
a compilation of real estate
laws and rules and other educational publications and for other educational
efforts the commissioner deems helpful and proper
for the
guidance and assistance of
to guide and assist
licensees
and the public, including sponsoring and holding educational seminars or
workshops for educators and other licensees. The
state
real estate
department shall establish the revolving fund as a separate
account. The
state real estate
department
shall make a full accounting of its use to the department of administration
annually or as required by the department of
administration. Expenditures from the fund and reimbursement to the
fund shall be as prescribed by rules of the department of
administration. Monies received in the real estate department
education revolving fund are not subject to reversion, except that all monies
in the fund
in excess of twenty-five thousand dollars
that exceed $25,000
at the end of the fiscal year revert
to the state general fund.
F. The commissioner shall create and
administer an early alert system that notifies a person of a pending sale or
transfer of ownership of real estate when the early alert system receives
notice from an escrow agent or an escrow company.� The early alert system shall
provide prompt notice by email, text message or other similar means of
communication.� Participation in the early alert system is voluntary and shall
allow individuals to opt in to the system.� The early alert system is not a public
record and is exempt from title 39, chapter 1.
F.
G.
The
commissioner shall adopt rules, in accord with this chapter, as the
commissioner deems necessary to carry out this chapter.
G.
H.
The
commissioner may approve standardized legal forms for use in the sale or lease
of real estate
for the purpose of recognizing
to recognize
compliance of the forms with this chapter and the
rules adopted pursuant to this chapter.
END_STATUTE