CaliforniaSingle-family residential real property: corporate entity: ownership.
What it does
Existing law provides that real property within the state is governed by the law of this state, except where title is in the United States. Existing law generally regulates the obligations of owners with respect to real property.
More detail
This bill would prohibit a business entity, as defined, that has an interest in more than 1,000 single-family residential properties from purchasing, acquiring, or otherwise obtaining an ownership interest in another single-family residential property and subsequently leasing the property, as specified. The bill would authorize the Attorney General to bring a civil action for a violation of these provisions, and would require a court in a civil action in which the Attorney General prevails to order specified relief, including that the business entity pay a civil penalty of $100,000 for each violation and that the business entity sell the property to an independent third party within one year of the date that the court enters judgment. The bill would require that these provisions be the exclusive means of enforcement of these provisions. The bill would define various terms for these purposes.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 19From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.Latest
- Jun 18Referred to Com. on JUD.Minor
- Jun 4In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Jun 3Read third time. Passed. Ordered to the Senate. (Ayes 42. Noes 18. Page 2005.)Passed Assembly
- Vote recorded AB 1240 Lee Assembly Third Reading. Result: pass.Lower
- May 27Read second time. Ordered to third reading.Minor
- May 23From committee: Do pass. (Ayes 11. Noes 2.) (May 23).Minor
- Vote recorded Do pass. Result: pass.Lower
- Apr 9In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Mar 26From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (March 25). Re-referred to Com. on APPR.Minor
- Mar 25
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Mar 13Referred to Com. on JUD.Minor
- Feb 24Read first time.Minor
- Feb 22From printer. May be heard in committee March 24.
- Feb 21Introduced. To print.Introduced