This bill proposes to amend Arizona Revised Statutes by adding a new section, 44-5102, which would impose restrictions on corporate purchases of single-family residences. Under the new law, corporations would be prohibited from buying a single-family home unless it has been listed on the market for over sixty days or if there has been a change in the asking price. Notably, any adjustment to the asking price would reset the sixty-day waiting period.

The current statutes regarding residential property remain unchanged, as the bill only introduces new provisions without altering existing laws. This addition aims to regulate corporate acquisitions of residential properties, potentially addressing concerns about housing availability and market dynamics.

Statutes affected:
Introduced Version: 44-5102