[WSBARP] Tenancy-in-common agreement to run with the land?

[Andrew Hay]

You might want to include an agreement about what happens if there is a dispute about the management of the lot.  Perhaps require the objecting party to arrange and pay for BLA to split the parcel, with both parties ultimately responsible for half the cost.  That way, they either live happily together or the person with a problem has the power and procedure to finally resolve any dispute.

Andrew Hay
Hay & Swann PLLC
201 South 34th Street
Tacoma, WA  98418
Phone: (253) 272-2400
Fax:     (253) 267-8947
www.washingtonlaw.net<http://www.washingtonlaw.net/>


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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of David Faber
Sent: Thursday, May 26, 2016 10:43 AM
To: wsbarp
Subject: [WSBARP] Tenancy-in-common agreement to run with the land?

PC came into my office on the recommendation of a title officer during the course of a rather unorthodox property purchase. PC and neighbor are jointly purchasing a rectangular lot lying directly between their existing properties. PC and neighbor have decided that going through the boundary line adjustment process. The title officer suggested that wouldn't be a problem, that they should come see me, and that I would just need to make sure that if either of the parties sells their ownership in their primary parcel that their interest in the "community lot" would pass with it. My gut reaction was to create a tenancy-in-common agreement, but I would need to make sure that it runs with the land of the neighboring parcels. I don't see any reason why I couldn't draft that language, but I just want to make sure that I don't miss anything. Has anyone experienced a similar situation and/or have a "best practice" solution (other than "tell the PC to go ahead and do the boundary line adjustment; it will be better for them in the long run" because I already know that and they told me "no thanks")?

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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