Architect · Santa Cruz, CA. · Member since 2020 · 12 posts · 22 votes
6y
I believe it is possible to sell the ADU from the main residence (SFR or Multi-family), if you are a qualified non-profit creating low-income housing. Look up AB 587. It must be deed restricted and sold to qualified home buyers through a tenancy-in-common agreement.
I do not have any personal experience with this but I’m sure there are companies in Southern California that you could talk with.
Lender · Irvine, CA · Member since 2018 · 71 posts · 15 votes
6y
TIC is co-owning a property. So if you TIC an SFR w/ ADU, you aren't selling the ADU itself - you can't anyway since ADU isn't an independent property/APN. You're selling ownership % to your new co-owner.
If the co-owner owns 30% of your property and decides to live in ADU and you live in SFR, who's going to stop that? That's a private agreement/arrangement between the co-owners. CA has struck down many cities that tried to prohibit TIC ownership in court.
I know this still sounds like you're "selling" the ADU but isn't. Selling is prohibited, and you really can't until subdivided.
Now if you want to finance, that's a different story. There would have to be no restriction on the title for title insurances to issue insurance for lenders.