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ARIZONA HOUSE OF REPRESENTATIVES57th Legislature, 2nd Regular Session |
Senate: FIN DP 6-0-1-0 |Third Read 27-0-3-0-0 |
SB 1254: real property conveyances; formal requirements
Sponsor: Senator Mesnard, LD 13
Committee on Commerce
Overview
Includes signature requirements for deeds and conveyances of real property.
History
The Department of Insurance and Financial Institutions (DIFI) regulates the insurance industry through licensure and examination of insurance professionals and businesses, including insurance producers and adjusters. The director of DIFI is responsible for the licensure of title insurance and escrow agents (A.R.S §§ 6-814, 20-1580).
Statute prohibits estates of inheritance, freehold, or for a term longer than a year, in lands or tenements, from being conveyed unless the conveyance is by an instrument in writing, subscribed and delivered by the party disposing of the estate, or by his authorized agent. Furthermore, deeds and conveyances of real property are required to be signed by the grantor and duly acknowledged before an officer authorized to perform notarial acts. Grantees that are a corporation, partnership, or regulated by DIFI, if doing business in Arizona, must provide their name, address, state and country in which the grantee is incorporated, licensed, chartered or formed, in every deed or conveyance of real property (A.R.S. § 33-401).
Provisions
1. Requires every deed or conveyance of real property to include the signature of the grantee or the grantee's authorized agent. (Sec. 1)
2. Specifies only the grantor's signature is required for deeds and conveyances submitted for recording by a licensed title insurer, title insurance agent or escrow agent. (Sec. 1)
3. Stipulates a deed or conveyance cannot be accepted unless the grantee's acceptance is evidenced by either the signature of the grantee or if authorized in writing, the authorized agent, on the instrument or by a certificate or resolution of acceptance attached to or printed on the deed or conveyance. (Sec. 1)
4. Prescribes the form and content of certificates or resolutions of acceptance that are submitted by a person who is not a licensed title insurer, title insurance agent or an escrow agent. (Sec. 1)
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8. Initials PB/AI SB 1254
9. 3/3/2026 Page 0 Commerce
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