Posted July 18th, 2018 | Status:
VICTORY ALERT: Governor Brown signs AB 2173
In the tidal wave of Stormwater Parcel tax actions occurring an ark of responsible government was signed into law. Governor Brown signed into law AB 2173(Santiago) a sensible administrative solution that protects tenants and commercial property owners by raising the dollar threshold from $750 to $2,500 for commercial property owners to set the necessary procedures governed within the law to trigger an auction process of abandoned commercial property.
This will reduce property owners going through a complicated an expensive auction process for very small amounts of value on property that was abandoned and better for the previous tenant if something was accidentally left behind. Business owners will have a fair and economical process that is a win-win that protects the tenant’s interest as well as the landlords.