ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

House: GOV DPA 7-0-0-0

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note

HB 2842: property sale; notice; escrow agents

Sponsor: Representative Contreras P, LD 12

Caucus & COW

Overview

Directs an escrow agent to transmit outlined information to the Arizona Department of Insurance and Financial Institutions (DIFI) when receiving an order for escrow services, transfers ownership or places a lien on real property through an early alert system (System).

History

The State Real Estate Department (Department) Commissioner must adopt rules they deem necessary, including approving standardized legal forms for use in the sale or lease of real estate, to ensure compliance with statutory requirements (A.R.S. § 32-2107).

Provisions

1.   Requires an escrow agent when they receive 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, transfer ownership or place a lien on real property to transmit the following information to DIFI:

a.   names of all owners;

b.   assessor parcel number;

c. mailing address of the actual, physical location of the real property, if it exists;

d.   name of the escrow company; and

e. email address and phone number of a contact at the escrow company for the real property that is being sold. (Sec. 1)

2.   Directs the Department to create and administer the System that notifies a person of a pending sale or transfer of ownership of real estate when notified by an escrow agent. (Sec. 2)

3.   Requires the System to provide prompt notice by email, text message or other similar means of communication. (Sec. 2)

4.   Stipulates that participation in the System is voluntary. (Sec. 2)

5.   States that the System is not a public record and is exempt from public record requirements. (Sec. 2)

6.   Makes technical and conforming changes. (Sec. 2)

 

Amendments

Committee on Government

1.   Changes the entity that the escrow agent transmits the outlined information from DIFI to the Department.

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5.   Initials ML                       HB 2842

6.   2/12/2026  Page 0 Caucus & COW

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