Author Topic: Buying Land From A Neighbor. Where To Start?  (Read 4493 times)

jpluncford21

  • 5 O'Clock Shadow
  • *
  • Posts: 83
  • Age: 34
  • Location: Tennessee
Buying Land From A Neighbor. Where To Start?
« on: April 30, 2013, 05:55:31 AM »
Mustaches

It's been a while. I hope you all are doing well.
I am getting into a situation I don't have any experience with, and need some advice. My neighbor is going to sell my wife and I a portion of property (<.25 acre) that joins our backyard. The whole parcel belonged to the original owner of our house, but she sold it to our neighbor long before we got there. He wants to split the property so that any future owners of our house or his can't build another house there. I am completely fine with that, but have no idea what the process is for this. I've done some quick research, but wanted to get some real world advice. I assume I am going to need to hire a surveyer and engineer to make up drawings and submit those to a city planner or someone similar. Are there any issues with splitting a parcel of land that has it's own address that I need to be aware of (The current owner, our neighbor, informed me that the land has it's own address and so I assume it is zoned for housing)? Thanks for any help!

cynthia1848

  • Stubble
  • **
  • Posts: 156
Re: Buying Land From A Neighbor. Where To Start?
« Reply #1 on: April 30, 2013, 07:14:10 AM »
You need a real estate attorney.

If the parcel is a separate parcel that was conveyed to your neighbor by itself, there is probably a deed description of it somewhere in the registry of deeds.  Depending on your state, the old deeds may be found online, or not.  Your neighbor would then convey that parcel back to you.  If the land has already been described in the old deed, it won't need to be surveyed again if its boundaries haven't changed.

Your attorney will also want to check with your town's zoning board to see if the parcel is classified as undevelopable land or not.  If it is developable land, then it will be assessed for a higher value (= more taxes) and you will probably want to put a deed restriction on it when your neighbor conveys it to you so that it won't be developable.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28022
  • Age: -999
  • Location: Seattle, WA
Re: Buying Land From A Neighbor. Where To Start?
« Reply #2 on: April 30, 2013, 07:26:23 AM »
If the parcel is a separate parcel that was conveyed to your neighbor by itself, there is probably a deed description of it somewhere in the registry of deeds.  Depending on your state, the old deeds may be found online, or not.  Your neighbor would then convey that parcel back to you.  If the land has already been described in the old deed, it won't need to be surveyed again if its boundaries haven't changed.

The boundaries will be changed - they're splitting it in half, basically.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

jpluncford21

  • 5 O'Clock Shadow
  • *
  • Posts: 83
  • Age: 34
  • Location: Tennessee
Re: Buying Land From A Neighbor. Where To Start?
« Reply #3 on: April 30, 2013, 08:10:32 AM »
If the parcel is a separate parcel that was conveyed to your neighbor by itself, there is probably a deed description of it somewhere in the registry of deeds.  Depending on your state, the old deeds may be found online, or not.  Your neighbor would then convey that parcel back to you.  If the land has already been described in the old deed, it won't need to be surveyed again if its boundaries haven't changed.

The boundaries will be changed - they're splitting it in half, basically.

Correct...well we are getting 2/3s. Thanks for the help.

cynthia1848

  • Stubble
  • **
  • Posts: 156
Re: Buying Land From A Neighbor. Where To Start?
« Reply #4 on: April 30, 2013, 08:25:54 AM »
Then you will need a surveyor as well.  Your real estate attorney will have people with whom he/she works and will be able to recommend one.