[Robert Taylor]

Robert Taylor

Jackie,

Thanks, that’s what I was afraid of.

Robert

[Robert Taylor]

Robert Taylor

Peter,

In CA you have 5 years before your land will be auctioned off to pay the property taxes. Maybe you can figure out what to do with it in that time. In some areas, lots may be completely unbuildable, but due to the limited number of permits given, you can sell/trade the ‘rights’ to build on your lot to someone else who needs those rights for their lot.

I.e., in some highly sensitive park areas where construction permits are drawn by lottery, builders often buy/trade/move the construction rights from one lot to another. When doing your due diligence, you have to watch out to make sure some group hasn’t put a permanent non construction provision on the title where someone has traded their rights to build with someone who didn’t have the rights.

HTH,

Robert

[Robert Taylor]

Robert Taylor

Jackie,

Thanks. That’s kind of what I was assuming, but didn’t want to assume too much.

I missed the call last night due to company. Did you get a chance to ask Jack about this?

Thanks,

Robert

[Robert Taylor]

Robert Taylor

Jackie,

Thank you for the freedom/clarification.

Robert