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California · 2025–26 Regular Session · Assembly Bill

AB 1240: Single-family residential real property: corporate entity: ownership.

Passed one chamber Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

AB 1240 is a assembly bill introduced in the California Assembly on February 21, 2025. According to its official title, it concerns: Single-family residential real property: corporate entity: ownership. Primary sponsor: Alex Lee (D). It lists 1 additional sponsor. Most recent recorded action (June 19, 2025): From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

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.

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.

Sponsors

Sponsors by party (alphabetical): Democratic 2

NameRolePartyChamberDistrict
Alex LeePrimary sponsorDemocraticAssembly24
Sasha Renée PérezCo-sponsorDemocraticSenate25

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.
  2. Referred to Com. on JUD.
  3. In Senate. Read first time. To Com. on RLS. for assignment.
  4. Read third time. Passed. Ordered to the Senate. (Ayes 42. Noes 18. Page 2005.)
  5. Read second time. Ordered to third reading.
  6. From committee: Do pass. (Ayes 11. Noes 2.) (May 23).
  7. In committee: Set, first hearing. Referred to APPR. suspense file.
  8. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (March 25). Re-referred to Com. on APPR.
  9. Referred to Com. on JUD.
  10. Read first time.
  11. From printer. May be heard in committee March 24.
  12. Introduced. To print.

Sources

  1. California Legislative Information — pubinfo database export
  2. Official bill page