Today’s question is from Marc in Montreal
The information you provide on your show helps me every day sharpen my strategies and tactics. Thanks for that.
I run a strip mall with a laneway behind it that is used for a McDonald’s drive through. The city, rightly or wrongly, is not permitting McDonald’s to update is signage until “this is resolved”. This seems quite unreasonable since the laneway does not belong to them, the last owner was alive 80 years ago, and this usage has been in place for 10 years. We are going for prescriptive acquisition.
Strangely enough, a neighbour on the other side of the laneway has a garage door that backs right into the laneway. The lawyer has said that it would be good to get an agreement with this neighbour before taking ownership of the land, since they would likely object to potentially losing an exit for their garage.
Even if we were to buy this neighbour out, we would still need an agreement that would keep the value of this property. My question is “how would you go about making an agreement with this neighbour, and what kind of agreements are possible?”
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Host: Victor Menasce
email: [email protected]
The Real Estate Espresso Podcast (00:04:29)
