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Recent Land Value questions
I own 9 contiguous residential lots out in the country. There
I own 9 contiguous residential lots out in the country. There are no improvements, no paved roads, no houses except for the one lot I live on. All the lots are fenced into one large parcel that I use for grazing livestock. The land is zoned agricultural for taxes.I'd like to sell a lot or two to raise money for some projects. The problem is I don't want anyone building a home out here, I want to enjoy my privacy for the time being.Land values are rising rapidly as the nearby large city continues to expand this direction, my property has gone up 4X in 16 years. I figure to develop the lots in 10 more years when I'm 70 and retire.Can I sell a lot today, but include a restriction that no development/occupancy can occur for a period of ten years? Would anyone be truly interested in such a deal?
I own 17 acres consisting of 9 contiguous residential lots
I own 17 acres consisting of 9 contiguous residential lots in an undeveloped rural subdivision. I own 8 of the lots free and clear, the 9th lot includes my small personal cabin with a 30-year conventional mortgage of 105,000 – about 1/3 of the home's worth according to Zillow. The total value of the property is around 1.4 million and is growing rapidly with surrounding land values (outside Austin, Texas). The land is zoned agricultural because I raise goats and keep the acreage fenced.I am 60 years old, semi-retied (self-employed mechanic) and my personal income is below the minimum required to refinance or cash out on my home, so I am asking a close friend to co-sign a note for me. I would like to give him 1/3 of a lot out here, in a simple process if possible.My question is what would be the best way to assign ownership to a portion of a residential lot, keeping in mind the tax status of the agricultural zoning of the property?
I have been fighting with my mortgage company seeking
I have been fighting with my mortgage company for years seeking principle forgiveness and felt there was a lot of fishy things that occurred. Purchased property 10/31/06, private sale. $550k, 45k directly to seller, 80/20 mortgage ( 1st-7 year I/O ARM, 2nd-30yr fixed) , 2 years locked until I could refinance. 18 months later (late 2008), property (including all land) valued only at 340k. Found out original appraisal, used to secure mortgage from bank, was appraised on 5ac not the whole 42.2ac. In additional, original approved and signed loan documents only listed 5 ac. By July 2010, second full appraisal $321k. Now I find out that there is a title defect: I live on a private dirt road, come to find out, I do not own the first 30 feet, my neighbor does, and there is not ROW given to me given to my property by there property in mine or their deed. I have gotten behind in the past and again because I am in such a negative equity position I can not secure credit to float my business in hard times: a business I run from the property. They are seemingly unwilling to negotiate and are threatening me with foreclosure. Ultimately, I want to know how the original appraisal/title issue can benefit me in negotiations with the bank.
My mother in Iowa transferred 80 acres to her 3 children
My mother in Iowa transferred 80 acres to her 3 children more than five years prior to needing Medicaid to pay for nursing home care, retaining a life estate interest that provided rental income from the farm to her. She died and the state is claiming a percentage of the value of the farm as estate recovery for Medicaid expenses. We sold the farm at a lesser value than the state estimated per acre. At any rate the state of Iowa claims we owe in excess of 46,000. We incurred over 17,000 in fees related to the sale of the land. Can that be subtracted directly from the 46,000 claim from the state?
Counselor at Law
My mother just past in aug. come to find out my brother went
my mother just past in aug. come to find out my brother went and bought our family farm with out me knowing he payed 800 acre this was way below market price I guess he bought it in the year 2000. land value back then was 1697 an acre according to uw extention I want to know do I have a right to demand my share of this farm
Counselor at Law
The Town of Bowerrs in Frederica, DE wants to put a drainage pipe through the middle of my
The Town of Bowerrs in Frederica, DE wants to put a drainage pipe through the middle of my property with a 15' easement area in order to alleviate flooding concerns. hey are quoting 29 DEl. C. 9501A (c)(2)..."the use of land for the creation or functioning of public utilities. Can I fight this? It will take away my ability to build an extension onto my house and leave my property worthless. I live on a bay front property. Additionally, they have asked me to donate the land even though I am entitled to just compensation. Furthermore, if it can't be fought, who decides what just compensation is?
In Nassau county, New York, if a plot of land is bought
In Nassau county, New York, if a plot of land is bought which had a house on it can you knock the house down completely- (with the proper permits) at will or are there some townships that won't allow you to demolish a house if there aren't plans to builda new one? Do the taxes get reassed immediately thereafter? Do you continue to still pay school taxes?
Can lender request me to purchase home insurance equal to theView more real estate law questions
Can lender request me to purchase home insurance equal to the loan amount? I am purchasing a home in Maryland and currently applying for VA loan. My lender wants me to buy home insurance coverage equal or greater than the total loan amount. I called my insurance company and they informed me if they increase my coverage to equal the loan amount, I would be over-insured.If lender can/cannot required me to buy coverage equal to the total loan amount, I would like to know which section of Maryland State Law specifically state this.Thank you