How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
Type Your Real Estate Law Question Here...
Tina is online now
A new question is answered every 9 seconds

Is there a minimum percentage of appraised value that is required by law that you must sel

Customer Question

Is there a minimum percentage of appraised value that is required by law that you must sell property? For example, is it a law that you must sell your property for at least 75% of the appraised value?
Also, if an adjacent property (owned by a second party) is 'landlocked' and can only be accessed through another property, what are Kansas laws regarding granting access? Lastly, if access is required to be provided, is there any law governing the pricing of granting access? IE: via secure gates?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 2 years ago.
Welcome and thank you for your question. I will be the professional that will be assisting you.
It depends on the situation. For example if you are selling property to be eligible for Medicaid or similar benefits there is a look back period and you need to sell for fair market value or it could be considered a fraudulent transfer,
Can you explain why you want to sell lower than the appraised value?
If property is landlocked the person that owns that landlocked property may have an easement by necessity without paying anything for access,
Please explain the situation so I can assist you.