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It's not clear to me how his parents could even raise the amount of their home since it is Stanford faculty housing stock.
by stevenwoo 4y ago
It's not clear to me how his parents could even raise the amount of their home since it is Stanford faculty housing stock.
- ksherlock 4y agoAs I understand it, they "own"^1 the house and can encumber it with mortgages but Stanford owns the land and limits who it can be re-sold to 1: "residential ground lease" not "fee simple"
- gnicholas 4y agoThey would sell the house to another eligible faculty member. As long as Stanford is still hiring or tenuring new faculty, there will be a steady stream of potential buyers. In some cases, Stanford will buy on-campus homes and renovate them, and then resell them.