California Government Code 87206.5 – If an official must disclose a leasehold interest, the official shall …
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If an official must disclose a leasehold interest, the official shall do all of the following:
(a) Identify the interest as a leasehold interest.
Terms Used In California Government Code 87206.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10
(b) Disclose the number of years remaining on the lease.
(c) Provide the leased property’s address or other precise location.
(d) Provide the exact date the lease became effective or terminated if the lease became effective or terminated during the period covered by the statement.
(e) Disclose the value of the leasehold interest as specified in subdivision (d) of Section 87206.
(Added by Stats. 2019, Ch. 312, Sec. 19. (AB 902) Effective January 1, 2020.)