single-family residence purchases; limitations.

SB 1441 regulates corporate purchases of single-family homes in Arizona. It requires corporations or limited liability companies (LLCs) buying such homes to register with the Corporation Commission and include specific ownership details on deeds, which must also state the property is not the owner’s primary residence. The bill limits corporate ownership to no more than 5% of single-family homes in any census tract and mandates county recorders to report monthly purchase data to the Corporation Commission. It exempts entities owning fewer than ten homes statewide. The law defines "single-family residence" as a detached home not sharing walls with another dwelling.