Residents of the prestigious area of San Francisco found that their street someone bought …

Residents of the prestigious area of San Francisco found that their street someone bought …

Is it possible to buy the street?

Residents of Presidio Terrace, private streets, one of the most exclusive communities in San Francisco, I learned the answer to this question from their own sad experience.

After the homeowners ‘ Association did not pay taxes for 30 years, the road was sold at auction, according to the newspaper San Francisco Chronicle. A couple from San Jose bought it for 90 000 dollars.

Tina Lam and Michael Cheng made a deal in 2015. And now they are owners of the public space of the Presidio Terrace, which includes its sidewalks, the road, the garden island, palm trees and other greenery, decorating parcels 35 luxury mansions.
Chang, an investor in real estate who was born in Taiwan, tells the newspaper that they «just got lucky». Lam, an engineer in Silicon valley, who moved from Hong Kong, says she «just wanted to buy something in San Francisco» because she loves this city.

However, homeowners to want to leave everything as it is and intend to challenge the transaction in court.

The homeowners ‘ Association Presidio Terrace said that they simply did not receive tax bills due to incorrect address. Tax was just under $14 per year, and during this time, the debt rose to $ 994, and the street was sold for reimbursement of additional fees and penalties.
The street had no notice, and none of Presidio Terrace were not even aware that the road changed hands until may 2017, when the representative of Lama, asked if the homeowners Association to buy back the street.

The city should have known that the address was wrong, say residents. They call to cancel a sale due to incorrect addresses in the accounts, but tax service this argument does not seem convincing.

The press Secretary of the service says that there is nothing to do about it, and adds that «ninety-nine percent of property owners in San Francisco know what they need to do, and they timely pay taxes, and look after their mailing address».

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