Bill > HB4086

This bill requires escrow agents, who handle the transfer of property ownership and related financial transactions, to notify the state real estate department when they receive an order for escrow services for a real estate sale or inheritance, or five days before recording a title transfer as a courtesy. This notification must include the names of all owners, the property's assessor parcel number, its physical address if available, the name of the escrow company, and a contact email and phone number for that company. Additionally, the bill mandates the creation of an "early alert system" by the real estate commissioner to promptly notify individuals, via email or text, of pending property sales or transfers after receiving notice from an escrow agent; participation in this system is voluntary and the information within it is not considered a public record. The bill also makes minor technical changes to existing law regarding the powers and duties of the real estate commissioner and the administration of the real estate department's education revolving fund.

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https://apps.azleg.gov/BillStatus/BillOverview/85608