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If the abandoned property was reasonably estimated to be worth less than $300, the landlord was entitled to dispose of it in any manner as she/he saw fit; but if the property was worth $300 or more, a landlord was required to hold an advertised public sale or auction open to competitive bidding.
Finally, after years of debate, the above monetary threshold value has finally been increased from $300 to $700, thereby allowing a California landlord to keep, sell, or destroy a tenant’s unclaimed abandoned personal property if the total resale value of the property is reasonably believed to be less than $700.
Under recently enacted legislation, California Civil Code §1950.5 (f)(1) and 1946 are amended to further provide that a landlord may not charge for storage costs if the former tenant reclaims their abandoned property within two (2) days; and to provide that a landlord may send the 15-day or 18-day abandoned personal property notice to the tenant by e-mail to an address provided by the tenant.
Posted In: Real Estate Reporter
Blog Categories:Business Law Bulletin
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Located in Los Angeles, California, the Law Office of Melissa C. Marsh handles business law and corporation law matters as a lawyer for clients throughout Los Angeles including Burbank, Sherman Oaks, Studio City, Valley Village, North Hollywood, Woodland Hills, Hollywood, West LA as well as Riverside County, San Fernando, Ventura County, and Santa Clarita. Attorney Melissa C. Marsh has considerable experience handling business matters both nationally and internationally. We routinely assist our clients with incorporation, forming a California corporation, forming a California llc, partnership, annual minutes, shareholder meetings, director meetings, getting a taxpayer ID number (EIN), buying a business, selling a business, commercial lease review, employee disputes, independent contractors, construction, and personal matters such as preparing a will, living trust, power of attorney, health care directive, and more.