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Do I need a lawyer to purchase a few acres of land?
Posted on 2/11/15 at 7:52 am
Posted on 2/11/15 at 7:52 am
I'm looking to purchase roughly 3 acres around my house, from a family member. The land has been surveyed; am I required to have a lawyer draw this up or could I just have a cash deed notarized and file at tax assessor's office?
3
Posted on 2/11/15 at 7:56 am to TigerFanatic1
quote:
I'm looking to purchase roughly 3 acres around my house, from a family member. The land has been surveyed; am I required to have a lawyer draw this up or could I just have a cash deed notarized and file at tax assessor's office?
Up until that last line I was going to say it might be possible. You record conveyances at the clerk's office. The tax assessor has nothing to do with the actual conveyance except they will put the tax bill in your name and re-assess based off of the sale. Do yourself a favor and pay a lawyer to get it done right.
Posted on 2/11/15 at 8:25 am to TigerFanatic1
quote:
TigerFanatic1
Are you going to put another house on it? TN state law requires anything under 5 acres to be platted in order for a permit to be obtained. It also requires the Register of Deeds to accept anything (survey, metes and bounds, deed, plat) and record it, the problem comes when people want to pull a permit and cannot. I would think you would be ok without a lawyer, but as someone mentioned, just go ahead and do it right so it is not a problem later.
This post was edited on 2/11/15 at 8:26 am
Posted on 2/11/15 at 8:28 am to OnTheBrink
Maybe. Is this 3-acre parcel already separate with an existing legal description? Or is it a portion of a larger piece (which means you will need to file for a subdivision of the larger parcel).
Posted on 2/11/15 at 9:21 am to hungryone
It is part of a larger portion, but we had a surveyor come out to establish boundaries and write the legal description. The 3.07 acres surrounds my current 1.2 acres. Just trying to save a few bucks.
rmc, you are correct in it not being the tax assessor's office. Guess I'm just still butthurt over the millage rate.
rmc, you are correct in it not being the tax assessor's office. Guess I'm just still butthurt over the millage rate.
Posted on 2/12/15 at 10:36 am to TigerFanatic1
quote:
Just trying to save a few bucks.
I hear that. You should be able to find someone to do it all for under $500 (including cost) if you aren't worried about a title exam/title insurance.
When dealing with rural areas and acreage I tend to err on the side of caution. If you were dealing with a subdivision lot in the middle of Baton Rouge it would be a little different. The legal descriptions can get tricky.
Posted on 2/12/15 at 1:26 pm to rmc
Do yourself a favor and hire a lawyer and make damn sure the title work is done. There have been many a rural land purchase screwed up doing what you are thinking about doing.
Posted on 2/12/15 at 4:01 pm to Pax Regis
quote:
hire a lawyer and make damn sure the title work is done
Yes indeed. You don't need to find out, 3 years from now when you try to get a construction loan or conventional mortgage...that the present owner simply "assumed" ownership of the property after great-aunt somebody died and her succession was never opened. Which means, 30 years later, that 117 potential heirs have to sign off on this to make it right. PITA of the first order, and an all too common happening in LA with passed-down family property.
Posted on 2/12/15 at 4:54 pm to hungryone
I do plenty of real estate and always use a lawyer.
Professionals are typically a good value.
Professionals are typically a good value.
Posted on 2/13/15 at 8:34 am to TigerFanatic1
most all the lawyers in my area charge around $100 for a simple deed.... money well spent
Posted on 2/14/15 at 8:09 am to mattloc
Hire a pro. Something as simple as not having the seller's spouse sign off on the sale, which many laypersons might not think about, could cause a headache down the road.
Ask for an owner's title insurance policy. Lawyers who do real estate closings can do that for you. It's cheap and makes sure you don't have an expensive surprise down the road. For all you know, there is a pipeline right of way through the middle of it. That sort of thing will be listed as an exception on the policy.
Ask for an owner's title insurance policy. Lawyers who do real estate closings can do that for you. It's cheap and makes sure you don't have an expensive surprise down the road. For all you know, there is a pipeline right of way through the middle of it. That sort of thing will be listed as an exception on the policy.
Posted on 2/14/15 at 7:06 pm to Twenty 49
call Lane Bennett at Title2Land, hes a real estate attorney and does all the title work in house. He is a great guy who will work with you and whatever you need. He has done a ton of my properties and it is always quick and painless, whereas some others are always trying to get every penny they can out of you.
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