Offers to Purchase in Wildfire Areas Denied to Owners of Multiple Properties

Senate Bill 1090 (Perez) was originally a place-holder that simply stated legislative intent. The bill was amended and now prohibits any person or entity owning 75 or more single family residences from making an unsolicited offer to purchase real property in a wildfire disaster area after a declaration of a state of emergency. The prohibition would apply for five years. The bill is now pending on the floor of the Senate. CLTA, which has expressed concern over the bill’s lack of a clear enforcement mechanism and potential implications for real estate transactions, is seeking to work with the author on alternative language.