Burt M. Polson | Napa Valley and Vallejo's Commercial Real Estate Broker

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Commercial Sales, Leasing and Consulting

Private Equity Syndication

Napa Valley and Vallejo, California

Disposition of Personal Property Left on Commercial Property

commercial

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 landlordreasonably 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

An ACRES Real Estate Services, Inc. Company