QUESTION

A contract was written on a coop property that has a contingency that an elevator needs to be put in for sale to go through.

Asked on Jul 01st, 2015 on Real Estate - California
More details to this question:
There are eight units in the coop in Laguna Woods and permissions from each owner has to be obtained. I have been told that if we don't agree another tenant will claim disability in order to override the others. The buyer is going to contribute $20K if this owner can get permission or file for disabiltiy. Seems illegal to me as this buyer is not an owner. Is a contingency on a real estate purchase of this sort legal?
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1 ANSWER

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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Regardless of the legal issues and rights, why would you want to get involved in a community that is about to get so crazy? I have no idea how much installing an elevator might cost. They will be building a free-standing 4 story concrete building attached to the existing building. 8 x $20,000 is $160,000. That's not likely to cover even the cost of plans and permits. This would have to be a really special place to live and a really bargain basement price to be worth even considering. No, the COOP and the owners have no legal responsiblity for building an elevator to accomodate someone with a mobility limitation. This is a private residence, not a public business. However, the fact that the COOP board is considering going along with this construction project raises questions about what other pet projects teh COOP board might become interested in making the members pay for. Reinforcing the roof or some other deck to accomodate a hot tub? A doorman to enhance security and assist residents in and out of the building? Most condo and coop boards are frugal, sometimes too frugal. That's usually a good thing. They're taking spending other people's money seriously. Is this board? Unless this place is really special and you're getting a really great price, I would run, not walk, away. If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need. Dana Sack  
Answered on Jul 06th, 2015 at 4:52 PM

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