The unusual arrangement is for a 16,000-square-foot Mediterranean-style home on more than 45 acres in Hillsborough.
The San Mateo County Times reports the owner, 76-year-old Christian de Guigne (deh GHEEN-yay) IV, was born and raised in the home and doesn’t plan to turn it over to the new owner until he dies.
Sotheby’s International Realty agent Gregg Lynn says the arrangement was common for property traded up until the 20th century. He called the estate a once-in-a-lifetime opportunity.
Another home nearby recently sold for $117.5 million.