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How does a person dispose of real property (bare land) that…

How does a person...

How does a person dispose of real property (bare land) that has lost ALL value to the extent that realtors will not even list it for sale? It is owned Free and clear and cannot be viably built upon because of changes in environmental regulations. The owner is still required to pay taxes and HOA assessments and does not wish to subsidizse other Home owners

Lawyer's Assistant: What steps have been taken so far? Has any paperwork been prepared or filed?

HOW can a person file paperwork when there is none to file or who to file it with. No Realtor will even list the property, In this time when most investors are looking to purchase property, the HOA has instituted policies that benefit (in the short term) only themselves not realizing that the property values of the entire community are rapidly decreasing.

Lawyer's Assistant: Where is the land located?

Pendaries , New Mexico

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Answered in 6 minutes by:
5/26/2018
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 43,027
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply as I am an actual practicing attorney, not an employee of JustAnswer.

.

If you simply want to be done with the land, give it away... Put ads on Craigslist or in the local paper or on Ebay stating you are giving away a plot of ground because you don't even intend to use it. And stop paying the property taxes on it... They can build up and then the local taxing authority will foreclose and force a sale of it at auction.

.

You want to continue paying HOA fees until you get rid of it because they can sue you for those as they are a personal obligation.

.

But someone will want free land and will figure out a way to do something with it..

.

.

thanks

Barrister

Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 43,027
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
Verified
Barrister and 87 other Legal Specialists are ready to help you
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Customer reply replied 2 months ago
Unfortunately the HOA has NOT provided any services to the property, such as maintaining the road, They have allowed some land owners to join two adjoining parcels making them buildable under the new enviromenttal regulations, and then pay only one HOA assessment fee , however they realized that they were losing a small amount of revenue and stopped allowing the one (1) assessment until the new single lot was built on, The local Authorities have chosen to NOT foreclose as there are numerous properties in arrears. The community started out as a nice golf community , however since the meltdown of 2007 it has not recovered and every property has suffered a large decline in value and in the case of bare land a complete loss of value!

I apologize for the delay in responding.. had to run out to the bank before it closed..

.

If the HOA is not doing what it is contractually obligated to do, then you would have grounds to sue them for breach of contract to either 1. stop paying dues, or 2. get an injunctive order from a judge to force it to comply with what it is legally obligated.

.

And as for them allowing the combining of lots,.. if they allow that for some, they have to allow it for all or that is discriminatory selective enforcement. So one of your neighbors may be interested in acquiring your lot to add onto theirs or the reverse...you buy another lot to make both of them sellable..

.

I also went ahead and closed two other threads for you so you won't get charged for them..

.

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Have a great afternoon!

Barrister

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