Partial assignment and subdivision advice

[Lyndsey Daigneault]

I'm hoping one of you can offer some advice on a subdivision deal I'm working on. I'm purchasing an existing home on a large, sub-dividable lot with plans to sell off the extra lot and keep the house on the existing parcel for a rental or flip. The deal is contingent upon subdivision approval. The seller and I have reached an agreement whereby if after the lot is approved for subdivision, if financing were to fall through and I was unable to close, I would be reimbursed for the cost of the subdivision when the property is conveyed to the new buyer. However, I don't want to write this into the P&S itself or an addendum, since it will become null and void if I end up signing a release of contract. So, I think what I need tp do is to create a separate contract between me and the seller, that states if financing falls through, I'll be allowed to place a lien on the property for the cost of the subdivision. Does anyone have any advice about how to word this? Also, if possible, I'd like the option to assign the sale of the lot before I close on the property. Is it possible to do a partial assignment? And if so, does anyone have verbiage they've used in the contract? Thanks in advance!