Two San Francisco landlords are left without a home to retire to after being forced to give their tenants a lifetime contract, according to Courthouse News.
Peyman Pakdel and Sima Chegini, owners of a tenancy-in-common interest in a six-unit building in San Francisco, have had tenants since 2010. They planned to move in after retirement, but are now unable to do so because their tenants have the right to stay there as long as they want.
This is because of a 2013 law, Ordinance 0117-13, which gave tenants the right to take a lifetime lease.
Condo purchase in Thailand has special rules for foreigners, which include a requirement for purchase funds coming from outside of Thailand and a foreign quota system.
Under this law, they had no choice but to offer a lifetime tenancy and file a lawsuit once it had been agreed to.
Paul Utrecht, the attorney representing the couple, says that the difficult situation was created intentionally by the state. “They set up the structure for the lifetime lease to make it impossible to challenge it prior to the acceptance by the tenant,” he said.
Read the full story here
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