AB 1240
Single-family residential real property: corporate entity: ownership.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Judiciary
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill restricts large corporate entities owning over 1,000 single-family homes from purchasing additional properties and then leasing them out. If a violation is found, the Attorney General can sue, and a court can order the entity to pay a $100,000 penalty and sell the property to an independent buyer within a year. The bill aims to prevent large-scale corporate control of residential housing.
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