AB 2025 went into effect Jan. 1, 2009. This law assists commercial property landlords with the disposition of personal property remaining on the premises at the termination of a tenancy. If the landlord reasonably believes that the total resale value of the personal property is the lesser of $750 or $1 per square foot of the premises occupied by the tenant, the landlord may retain the property for his or her own use or dispose of it in any manner; otherwise, it must be sold at a public sale. The law requires that a “Notice of Right to Reclaim Abandoned Property” be sent to the person the landlord reasonably believes to be the owner of the personal property (other than the former tenant).
-Burt
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