CA AB2584

Prohibits business entities that own more than 1,000 single-family residential properties from purchasing or acquiring ownership interest in additional single-family residential properties and subsequently leasing them

Defines "business entity" to include associations, companies, partnerships, corporations, LLCs, and REITs, but excludes nonprofit organizations and entities primarily engaged in constructing new housing

Defines "single-family residential property" as a single parcel of real property improved with only one detached dwelling unit with a certificate of occupancy issued

Authorizes the Attorney General to bring civil actions for violations, with courts required to impose $100,000 civil penalties per violation, order property sales to independent third parties within one year, and award attorney's fees and costs

Establishes that Attorney General enforcement is the exclusive means of enforcing these provisions, and sellers have no liability for violations