How do we sell one of our adjoining waterfront properties yet retain use of an existing structure on the property?
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How do we sell one of our adjoining waterfront properties yet retain use of an existing structure on the property?
We wish to sell one of our adjoining waterfront properties yet retain use of an existing structure on the property. Due to zoning regulations we are unable to subdivide the property in order to retain use/access of the structure. Is there a legal term or procedure for having the access placed within the deed?
Asked on August 7, 2012 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you wish to retain a particular structure on a parcel you wish to sell and let the parcel remain, the way to do such would be via some grant deed with an express reservation that you own the structure on it or it is subject to a ninety-nine (99) year lease of $1.00 per year.
I suggest that you consult with a real estate attorney to assist you on this endeavor.
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