AB1482 Exemptions (LLC vs Corporation)
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 :)