Commercial Landlords & Commercial Tenants in California need to read and comply!
Assembly Bill 2847 quietly went into effect on January 1st 2019, many Commercial Landlords & Tenants were not even aware.
The existing law provides, that real property will be deemed 'abandoned by a lessee' and the lease shall terminate if the lessor gives 'notice of belief of abandonment'. 'The notice of belief of abandonment' can be given only where a rent not the property has been due and unpaid for at least 14 consecutive days and the lessor reasonably believes that the lessee has abandoned the property. Existing law authorized a 'notice of belief of abandonment' to be served personally or mailed.
The new law creates a different set of rules for Commercial Real Property by authorizing the Notice of Belief of Abandonment to be given where rent on the property has been due and unpaid for at least the number of days required for the lessor to declare a rent default under the terms of the leaser, but under no circumstances less than three days.
The new Law also authorizes the "Notice of Belief of Abandonment of Commerciala Real PRoperty to be sent by an overnight courier service.
Now with that said yes you guessed it: a new statutory form has been created for a commercial property 'notice of belief of abandonment'.
Hence if you are a Commercial landlord or a Commercial tenant in California you need to be aware.
Now if you are considering proper representation by someone who is keeping up with the ever changing laws of the Commercial Real Estate landscape please reach out to me directly for representation.
If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly!
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