Buying/Leasing portion of neighbor's land for parking space

Status
Not open for further replies.

Farfel

New Member
I own a home in Brooklyn, NY and I negotiated with my next door neighbor to purchase/lease a piece of his property that adjoins mine for use as a carport. I was told that the best way to do this is either get a long term lease i.e. a 99 year lease (which I would be paying upfront for), or get an easement on the property that will allow me to use the property as a parking space. Which option makes more sense for my situation? Would an easement give me exclusive rights to park on that piece of land? What are the advantages/disadvantages of getting a long-term lease VS. an easment? The seller has indicated that he would go along with either option.
 
You BOTH should speak to an attorney (your OWN attorney) before doing anything.
What you propose require MORE than a form.
Hint: take a look at the deed the other person allegedly holds, and do a title search.
Again, each of you requires legal advice from a real estate lawyer.
 
Agree, you shouldn't enter into any type of "agreement" such as this without speaking to a real estate lawyer first.
 
Status
Not open for further replies.
Back
Top