LEGISLATIVE COUNSEL’S DIGEST
AB 1703, as amended, Bloom. Residential real property: sale of rental properties: right of first offer.
Existing law establishes various real estate disclosure requirements applicable to the transfer of residential real
This bill would require an owner of residential real property, defined to include a single-family residential
property that is occupied by a tenant or a multifamily residential , property except as specified, to take
various actions before offering the residential real property for sale to any purchaser, soliciting any offer to
purchase the residential real property, or otherwise entering into a contract for sale of the residential real
property. The bill would exempt certain transfers of a residential real property from its provisions, including, among others, a transfer between spouses, domestic partners, parent and child, siblings, grandparent and grandchild, a transfer pursuant to a court order, and a transfer by eminent domain.
This bill would require the owner of the residential real property to notify each tenant and each qualified
organization, as defined, of the owner’s intent to sell the residential real property.