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So make more of CA like east LA. Overcrowded lots, residential streets full of cars.
Minimum size allowed after lot split: 1,200 sq.ft (max ratio allowed 60/40).
How long before the halfs can be split again?
owner must sign an affidavit saying they will live there for three years
owner must sign an affidavit saying they will live there for three years
"Live there" where? On two lots simultaneously?
Eric Holder says
"Live there" where? On two lots simultaneously?
(g) (1) A local agency shall require an applicant for an urban lot split to sign an affidavit stating that the applicant intends to occupy one of the housing units as their principal residence for a minimum of three years from the date of the approval of the urban lot split.
Split your lot in half. Sell the other half to your kid. Live on the fist half for 3 years. Split it again. Sell one to your other kid. Meanwhile your kids split their lots in half.... and so on and so forth until we have umpteen 1200 sq.ft lots on the street in a mere decade or two. =))
FuckCCP89 saysHow long before the halfs can be split again?
You can only do it once using this statute. And to prevent rampant speculation, owner must sign an affidavit saying they will live there for three years, so, in the short term, Section 8, or problematic neighbors, are less likely.
EBGuy says(G) Neither the owner of the parcel being subdivided nor any person acting in concert with the owner has previously subdivided an adjacent parcel using an urban lot split as provided for in this section.
Doesn't mean it can't be done more than once. Transferring title after doing it the first time to an LLC or trust, for example, means it can be done a second time.
Split your lot in half. Sell the other half to your kid. Live on the fist half for 3 years. Split it again. Sell one to your other kid. Meanwhile your kids split their lots in half.... and so on and so forth until we have umpteen 1200 sq.ft lots on the street in a mere decade or two. =))
Transferring title after doing it the first time to an LLC or trust, for example, means it can be done a second time.
Eric Holder says
"Live there" where? On two lots simultaneously?
(g) (1) A local agency shall require an applicant for an urban lot split to sign an affidavit stating that the applicant intends to occupy one of the housing units as their principal residence for a minimum of three years from the date of the approval of the urban lot split.
It's not worth much if the permits are hard to get and take forever and inflation is prohibitive for construction/renovation. We'll see, I expect supply to stay tight. With exploding inflation there is not much incentive to build.
https://www.gov.ca.gov/2021/09/16/governor-newsom-signs-historic-legislation-to-boost-californias-housing-supply-and-fight-the-housing-crisis/
Tern Center estimates that approximately 700,000 new, market-feasible homes would be enabled under SB 9. My crystal ball says this legislation will have far reaching effects on California's political environment. YMMV...