The proposed bill introduces several amendments to the Arizona Revised Statutes related to real estate. Key changes include:

1. Escrow agents must record a notice of pending sale before collecting monies for real estate transactions, excluding leases, and must notify involved parties such as real estate brokers, salespersons, buyers, and sellers if a transaction is canceled. Additionally, the bill outlines identification requirements for recording documents affecting real property, with exceptions for certain professionals and entities.

2. The bill mandates that property owners can file a notarized affidavit to restrict changes to their property's mailing address, with changes only permitted through subsequent affidavits by the owner. It also requires insurers to verify insurance policies upon request by licensed real estate salespersons and introduces measures to enforce real estate fraud, including the employment of investigators by the commissioner.

The bill also includes provisions for checking identification in real estate transactions, the responsibility of wholesale buyers and sellers in residential property transactions, and the requirement for notaries to obtain thumbprints or biometric identification when notarizing certain documents. The act is to be known as "Jerry's Law."

Statutes affected:
Introduced Version: 6-841.01, 11-466, 11-467, 11-544, 20-1129, 32-2108, 32-2151.02, 32-2153, 32-2160, 41-319, 44-5101, 32-2101, 20-1562, 11-461, 41-1758.03, 33-420, 44-101, 32-2155, 32-2125, 32-2160.01, 32-2153.01, 41-263, 41-255