Land Sharing Agreement Format In Santa Clara

State:
Multi-State
County:
Santa Clara
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

The Land Sharing Agreement format in Santa Clara is designed for equitable property investment between two parties, providing a clear structure for ownership, financial contributions, and future profit distributions. Key features include the specification of purchase price, down payment responsibilities, and a shared financing arrangement. The agreement outlines the roles of each party, with one residing in the property while both share maintenance costs and manage taxes. Legal provisions detail issues of occupancy, distribution of sale proceeds, and the handling of disputes through mandatory arbitration. This centrally focuses on collaborative profit-sharing and risk management related to property appreciation and depreciation. Suitable for attorneys and legal professionals, the document assists in structuring joint ownership arrangements, ensuring compliance with local laws, and addressing potential conflicts. Owners benefit by having a formalized agreement that protects their investment interests, while paralegals and legal assistants find it an essential tool for documentation and client guidance. Modified easily, this format serves a diverse audience seeking to navigate complex property agreements effectively.
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FAQ

Does AB 1492 Prohibit Homesite Construction on Williamson Act Contracted Lands? No, as long as the residence is part of the agricultural use of the land for commercial agricultural production.

An agricultural preserve defines the boundary of an area within which a city or county will enter into Williamson Act contracts with landowners. The boundary is designated by resolution of the board or city council having jurisdiction. Agricultural preserves must generally be at least 100 acres in size.

What is a Williamson Act Contract? A Williamson Act Contract is the legal document that obligates the property owner, and any successors of interest, to the contract's enforceable restrictions.

The Act creates an arrangement whereby private landowners contract with counties and cities to voluntarily restrict their land to agricultural and compatible open-space uses.

A landowner must submit an application to the City or County requesting the contract be cancelled for a portion or the entirety of the contracted area. See the Contract Cancellations page for detailed information and constraints. For questions regarding cancellations, contact your local Planning Department.

The California Land Conservation Act, commonly known as the Williamson Act, is a state agricultural land preservation program in which each local jurisdiction can elect to participate. Santa Clara County as well as some local cities currently participate in this program.

The Williamson Act is estimated to save agricultural landowners from 20 percent to 75 percent in property tax liability each year. Many counties offer a Williamson Act calculator to determine the value of a contract.

No. Any development on property subject to a Williamson Act contract must be related to the primary use of the land for agricultural purposes and in compliance with local uniform rules or ordinances.

Minimum Acreage Productive PotentialMinimum Acreage Coastal Valley and Vegetable Lands 10 Acres Orchards and Vineyards 20 Acres Dry Farm 160 Acres Grazing Lands 320 Acres

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Land Sharing Agreement Format In Santa Clara