SB-9 California - What if I sell?

[Christopher Duron]

Hello Everyone.  When using SB9 to split a single family zoned lot into two lots there is an occupancy requirement of 3 years from the time of the approval of the urban lot split.  I understand an affidavit stating "I intend to occupy..." must be signed in order to obtain approval.  My question is- what if life circumstances change and I need to sell the owner occupied portion within that 3 year window?  Can I do that?

Additionally, what if I sell the extra lot to an owner occupant and rent out my units.  Is that acceptable?

Any responses from California SB 9 savvy people will be greatly appreciated.  

Thank you in advance.  

-Chris

[Stefan Palacio]

Hey Chris, 

I am currently working towards putting a couple deals like this together up north. Message me if you'd like to talk more about it! 

-Stefan 

[Daniel Pierson]

Hi Chris -  My company specializes in helping homeowners navigate state housing regulations.

If your life circumstances change and you move out before 3 yrs is up, you will not be penalized. The operative word is that you "intend" to live in the property for 3 additional years. It's written that way to prevent institutional scale landlords from taking advantage.

[Landon Mizuguchi]

If I sell the extra lot to an owner occupant I believe that's acceptable. 

[Christopher Duron]

Daniel, thanks very much for the knowledge.   I wish things like this were a little more black and white, but then again what fun would that be.  Appreciate you taking the time.