California Civil Code

§ 4740

CIV § 4740 Effective Jan 1, 2021Div. 4 · Part 5 · Ch. 5 · Art. 1

Statute text

(a)An owner of a separate interest in a common interest development shall not be subject to a provision in a governing document or an amendment to a governing document that prohibits the rental or leasing of any of the separate interests in that common interest development to a renter, lessee, or tenant unless that governing document, or amendment thereto, was effective prior to the date the owner acquired title to their separate interest.

(b)For purposes of this section, the right to rent or lease the separate interest of an owner shall not be deemed to have terminated if the transfer by the owner of all or part of the separate interest meets at least one of the following conditions:

(1)Pursuant to Section 62 or 480.3 of the Revenue and Taxation Code, the transfer is exempt, for purposes of reassessment by the county tax assessor.

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Legislative history

Amended by Stats. 2020, Ch. 198, Sec. 1. (AB 3182) Effective January 1, 2021.