Current law prohibits a landlord from requiring a tenant to submit a security deposit in an amount that exceeds 2 monthly rent payments. The act creates an exception to this prohibition for cases in which a buyer and a seller of residential real property have executed a post-closing occupancy agreement in connection with the sale. The exception takes effect January 1, 2027.
(Note: This summary applies to this bill as enacted.)

Statutes affected:
Signed Act (04/21/2026):