AB 2005: Housing developments: urban lot split: owner-occupancy.

This bill amends the government code to require local agencies to ensure that urban lot splits have owner-occupancy requirements for a minimum of three years. To achieve this, applicants must either sign an affidavit stating their intention to occupy one of the housing units as their principal residence or require that all units remain owner-occupied for three years when selling to a homebuyer. The bill also imposes recording and notice requirements on this new requirement and prohibits local agencies from adopting specific rules for urban lot splits. Additionally, the bill requires sellers of urban lot splits to disclose the owner-occupancy requirement in writing. The bill also clarifies that the state is not required to reimburse local agencies for costs related to implementing this new requirement.