ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

House: COM DP 8-2-1-0

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

HB4086: escrow agents; notice; property sale

Sponsor: Representative Griffin, LD 19

Caucus & COW

Overview

Provides reporting requirements for escrow agents relating to transference of real property and instructs the Arizona Department of Real Estate (ADRE) to create an early alert system that notifies persons of pending sales or transfers of real estate ownership.

History

The Department of Insurance and Financial Institutions licenses, monitors and regulates the safety and soundness of regulated entities, including the examination of escrow agents and their trusts (A.R.S § 6-122). Simultaneously, the ADRE governs the licensing and enforcement of real estate brokers and salespersons under the authority of the real estate commissioner (A.R.S §§ 32-2102, 32-2107).

County recorders are required to provide a system for notifying a person or entity when any document is recorded in which the person or entity is mentioned. The system is voluntary and notice must be provided promptly through email, text message or other similar means (A.R.S § 11-467). In Maricopa County, the Maricopa County Title Alert system alerts entities after a document is officially recorded under an entities' name.

Provisions

1.   Mandates an escrow agent to transmit specific property, owner and escrow company information to the ADRE, when either:

a.   receiving orders to transfer real property ownership through sale or inheritance and creates preliminary title reports; or

b.   five days before recording a title that is being handled as a courtesy, transferring ownership or placing a lien on real property. (Sec. 1)

2.   Directs ADRE's Commissioner to create and administer an early alert system that, upon receiving notice from an escrow agent or company, notifies individuals of pending sales or transfers of real estate ownership. (Sec. 2)

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

4.   Specifies participation in the early alert system is voluntary and must allow individuals to opt in to the system. (Sec. 2)

5.   Exempts the early alert system from public records statutes. (Sec. 2)

6.   Makes technical changes. (Sec. 2)

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10.  Initials PB                       HB 4086

11.  2/18/2026  Page 0 Caucus & COW

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