| 1. |
|
| 2. |
|
| 3. |
|
Ratings. Guidance. The Right Lawyer.
Question about license to park on property
Los Angeles, CA
Viewed 16 times.
Posted 2 months ago in Real Estate
Flag as objectionable
4 homes are located on a shared driveway easement which needs paving. 3 of the owners are willing to pay but the 4th owner doesnt have $...One of the neighbor's has offered to pay for the the 4th neighbor's share (interest-free) in return for that neighbor giving the paying neighbor permission (a license) to park in her parking spot. This sounds like valid consideration to me. However, the paying neighbor would like the contract, which will be recorded with the county recorder's office, to state that in the event the non-paying owner's title is transferred, the paying owner would be entitled to a refund for the amount paid for the driveway as part of escrow conditions & the parking license would terminate.
Can anyone give me ideas how to draft a contract that would be legally binding?
Additional information
To clarify, my question is regarding the validity of a clause that would allow the paying owner to be refunded in case the non-paying owner's home is sold or foreclosed. It sounds like a fair deal because one neighbor is getting an interest-free loan and the other is getting the ability to park on the premises. Answers (2)
Joseph Clark Melino
This attorney is licensed in California.
Posted 2 months ago.
Flag as objectionable
Under California law, such a license agreement would be enforceable as to the right to park. The right to the return of the funds is also legal on a sale of the property, if the advance of funds is framed as a deed of trust with a promissory note recorded against the subject property. .
The difficult part is to gain rights to repayment upon foreclosure. That would require the lender to agree and subordinate to the claim of licensee. Not likely. I strongly suggest the parties consult with a real estate lawyer in the area. It is not an agreement that can be done on a casual basis. I cannot tell your status as to the matter, but if your not a licensed attorney, your drafting such an agreement could be practicing law without a license. This answer is provided under the Avvo system, and is subject to the AVVO Terms of Service. It is not to be considered legal advice that creates an attorney/client relationship. .
Joseph Clark Melino
This attorney is licensed in California.
Posted 2 months ago.
Flag as objectionable
Under California law, such a license agreement would be enforceable as to the right to park. The right to the return of the funds is also legal on a sale of the property, if the advance of funds is framed as a deed of trust with a promissory note recorded against the subject property. .
The difficult part is to gain rights to repayment upon foreclosure. That would require the lender to agree and subordinate to the claim of licensee. Not likely. I strongly suggest the parties consult with a real estate lawyer in the area. It is not an agreement that can be done on a casual basis. I cannot tell your status as to the matter, but if your not a licensed attorney, your drafting such an agreement could be practicing law without a license. This answer is provided under the Avvo system, and is subject to the AVVO Terms of Service. It is not to be considered legal advice that creates an attorney/client relationship. . |
