Dear Listmates:

I am working on a transaction involving the sale of a residence located in the Lazy Point community in Amagansett. As you may know, these properties involve a unique ownership arrangement in which the seller owns the building/improvements while the underlying land is held pursuant to a ground lease.

Before drafting the contract myself, I wanted to inquire whether anyone has a form contract or other sample documents that have been used for the sale of a Lazy Point property or a similar type of proeprty. I would also appreciate any practice pointers or information regarding any unique provisions or transfer requirements that should be addressed in the contract.

If anyone has handled one of these transactions and is willing to share a form or offer guidance, I would be most grateful.

Thank you in advance for your assistance.

Very truly yours,

Christina M. Panzarella

CHRISTINA M. PANZARELLA, P.C.
2893 Long Beach Road
Oceanside, NY 11572
Phone (516) 442-7272
Fax (516) 442-7273

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