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Updated 3 months ago on . Most recent reply

User Stats

19
Posts
2
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Brandon Lashmet
  • santa ana, ca
2
Votes |
19
Posts

AB1482 Exemptions (LLC vs Corporation)

Brandon Lashmet
  • santa ana, ca
Posted

AB1482 states that "single-family homes/condos (residential real property that is alienable separate from the title to any other dwelling unit) are exempt from AB 1482 if (1) the owner is not a real estate investment trust, a corporation, or a limited liability company in which at least one member is a corporation and (2) the owner provides the tenant with a written notice of the exemption"

The part that is confusing is "...a corporation, or a limited liability company in which at least one member is a corporation."


Would this just include all LLCs (since all LLCs are corporations), or do they specify an LLC with specific criteria since by corporation they mean non-LLC corporations?

I am the member of a single member LLC, where the LLC is on the title of a rental property, and trying to determine if it is exempt from AB1482, since the LLC does not have a corporation as a member, or if the LLC is binded by AB1482 just in virtue of being an LLC.

Any help appreciated :)

https://caanet.org/kb/exemption-from-ab-1482-addendum/

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