Posted by Art_MD on 12/8/10 8:43am
Msg #364301

When is a SFR not a SFR


Borrowers home is in a development. Built 20+ yrs ago. 250 homes.
All homes on own little plot.

BUT, borrowers says - this isn't a single family residence - its a duplex. ???

Story -- When the developer was starting the project, he was permitted for 125 duplexs. But, figured that it was better to build 250 single homes. Well, zoning wouldn't give him a change. So, there is about 8' between 2 houses, then 25' to the next, 8' to the next etc.
When he built the homes, he put 2 beams between the 2 individual houses and called it a duplex. He got it done. Borrower says that 90% of the beams have been removed in the neighborhood, but, when a property is sold, the beams have to be in place - go figure.

Art

Reply by SheilaSJCA on 12/8/10 1:45pm
Msg #364341

sounds like a zero lot line development n/m

Reply by Art_MD on 12/8/10 2:15pm
Msg #364350

Not a zero lot line development

There are actually 2 houses 8'-10' apart. I was in the area during daylight today and actually saw the beams connecting 2 houses - (maybe closer to being a trellis then just beams). Then 25' to the next pair of houses. Only saw 2 cases where the trellis is up out of maybe 20 I looked at.

Art

Reply by Jodith Allen on 12/12/10 10:27pm
Msg #364827

If it's technically a duplex, doesn't the land they sit on have to be held in common, since it's technically one plot? I would assume there would be some ungodly riders attached to that deed of trust.