Legal Question in Real Estate Law in California
Boyfriend to built apt on my property.
I have owned my home for 30 years.
My boyfriend (building contractor) will
build himself a freestanding apt in my
backyard. We have agreed that he can
life their for his lifetime if he choses or
if he wants to move I will buy him out at
100,000 dollars. If I should die before
him then my children/him will either
chose to live on the property or the
same arrangment to buy out his
investment will stand. When he dies the
apartment will revert/stay in my
ownership as an add on to my property
value to be inherited at my death by my
children. Does this have any legal
status and do I need to write it up and
have it signed and notorized. PS we
have had a 15 year relationship-and he
has always been a man of his word.
4 Answers from Attorneys
Re: Boyfriend to built apt on my property.
You very much need an agreement for everyone's protection. What happens if you die, what happens if he dies. Who must maintain. There are many, many questions that need to be addressed to avoid problems latter.
Re: Boyfriend to built apt on my property.
You bet you need this in writing! There are even aspects of your oral agreement that are testamentary in character, such as who-gets-what when the other dies, and those aspects may be completely unenforceable unless put into an instrument such as a will or trust that is executed with the required formalities - in the case of a will, two disinterested witnesses, for example.
There are also major property, inheritance, gift, estate and capital gains tax issues.
You (or your heirs, or his) will regret it later if you don't have the agreement drawn up by an attorney, probably one who does a fair amount of trust (estate) work.
Also, make sure the construction is done with full planning and building department approvals, permits, etc.
Re: Boyfriend to built apt on my property.
This would most definitely require a written instrument and is a very serious proposition. I urge you to go to an attorney for advice. In addition, make sure it is legally permissible to build in your "backyard" and that everything is permitted, etc.
Re: Boyfriend to built apt on my property.
Yes it must be in writing as all interests in land. Call me directly at 1.619.222.3504.
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