California real estate disclosure laws California Real Estate Disclosures | Page 71

F. Notices to Tenants to Disclose Intent to Convert an
Apartment to Individual Ownership
The owner of an existing apartment building may decide to convert the units
to condominiums (or other form of common interest development) and offer
the units for sale. Among the requirements for approval of such a
subdivision are certain notices to current and prospective tenants. These
notices must include information relative to public hearings regarding the
proposed conversion and the right of a current tenant to purchase his/her
unit.
A developer and a city or county may, as a condition of condominium map
approval, enter into an agreement that newly-constructed units will be rented
for ten years (or more) and then may be sold as condominiums. As part of
this agreement, the developer must provide current and prospective tenants
with certain notices relative to the eventual sale. Again, a tenant must
receive notice of his/her right to purchase the unit.
(CAL. GOV’T §§ 66427.1, 66452.8, 66452.9, 66452.50, 66452.51)

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