This bill proposes to amend the Arizona Revised Statutes by adding a new section, 44-5102, to title 44, chapter 15.1, article 1, which specifically addresses the purchase of single-family residences by corporations. Under the new law, corporations would be prohibited from purchasing a single-family residence unless it has been on the market for more than sixty days or if there has been a change in the asking price.

The bill establishes that any change in the asking price would reset the sixty-day time period, thereby allowing corporations to purchase the property only after the stipulated duration or under the specified conditions. This addition aims to regulate corporate acquisitions of residential properties, potentially impacting the housing market dynamics.

Statutes affected:
Introduced Version: 44-5102