Notice to Tenant of Assignment or Transfer of Lease
(Residential) (CA)

Summary

This template is a notice to tenant of assignment or transfer of lease and may be used by a residential landlord in California to notify a tenant that the landlord has sold the premises, assigned the lease, and transferred the security deposit to a new owner/buyer. This template includes practical guidance, drafting notes, and optional clauses. When a landlord sells or transfers a California residential property to a third party, all security deposits must either be transferred to the buyer or returned to each tenant within a reasonable time. Cal Civ Code § 1950.5(h). In addition, in the event of noncompliance with Cal Civ Code § 1950.5(h), a buyer of California residential property is jointly and severally liable with the original landlord to any tenant for a security deposit or prepaid rent which the tenant paid to such landlord. Cal Civ Code § 1950.5 (j). See 18 California Legal Forms--Transaction Guide § 35A.54 for a discussion of the effect of noncompliance with Cal Civ Code § 1950.5. For a full listing of key content covering residential leasing agreements, see Residential Leasing Resource Kit. California lease agreements are governed by Cal. Civ. Code § 1940 et seq., which imposes certain rights and responsibilities on the parties. For more information on rights and duties of residential landlords and tenants in California, see Residential Lease Agreements (CA), 6 California Real Estate Law & Practice § 155.01 et seq. and 17 California Legal Forms--Transaction Guide § 34B.200. For residential lease templates for use in California, see Residential Lease (Apartment) (CA) and Residential Lease (Single-Family Residence) (CA). Local counsel should be consulted regarding municipal codes in the jurisdiction of the property (including large cities like Los Angeles and San Francisco) that may affect the responsibilities of the original landlord and the buyer to notify the tenants regarding the sale of the premises.