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Moving onto someone elses property.
EWom
Registered User regular
Registered User regular
So my mother in law has a bit of property that developers have been trying to get from her, though she's refusing to sell.
However it came up that she wants me and my wife, her daughter, to move onto one the plots of land, that is already designated to have housing on it (IIRC it's a 4 acre plot), and have a house built or a modular moved in or whatever.
What legalese bullshit do we have to jump through to actually accomplish this. Does the property have to pass from her to us, or do we just have to pay to live on it, like you would a plot rent anywhere else for a trailer/modular ? I assume the government wouldn't look to kindly on people living on taxable land for free! Without having something to tax (for example, the extra income said mother would be getting for the plot fee).
If we do have to pay a plot rent, does it have to be FMV? Or can we say, pay 100$ a month for the plot rent, even though FMV would probably something more like 1000$ at least. Would it make any difference that part of the agreement is that we help with her property as well. Mowing, feeding the cows/horses, etc?
If my wife and I do this, eventually we will want to buy the land from her, though if we can get away with not buying it out right, we'd prefer to do it that way. Basically so that if she kicks off, someone can't come and take the house from us and or the siblings don't say "fuck that we want to sell her whole estate, move off it now!
Curious if anyone has any experience or knowledge in this area.
However it came up that she wants me and my wife, her daughter, to move onto one the plots of land, that is already designated to have housing on it (IIRC it's a 4 acre plot), and have a house built or a modular moved in or whatever.
What legalese bullshit do we have to jump through to actually accomplish this. Does the property have to pass from her to us, or do we just have to pay to live on it, like you would a plot rent anywhere else for a trailer/modular ? I assume the government wouldn't look to kindly on people living on taxable land for free! Without having something to tax (for example, the extra income said mother would be getting for the plot fee).
If we do have to pay a plot rent, does it have to be FMV? Or can we say, pay 100$ a month for the plot rent, even though FMV would probably something more like 1000$ at least. Would it make any difference that part of the agreement is that we help with her property as well. Mowing, feeding the cows/horses, etc?
If my wife and I do this, eventually we will want to buy the land from her, though if we can get away with not buying it out right, we'd prefer to do it that way. Basically so that if she kicks off, someone can't come and take the house from us and or the siblings don't say "fuck that we want to sell her whole estate, move off it now!
Curious if anyone has any experience or knowledge in this area.
Whether they find a life there or not, I think Jupiter should be called an enemy planet.
EWom on
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My only concern would be her reasons for wanting you to move onto the property. If she's just trying to help you out then great, but if ownership or titling is in question and she wants to put a sympathetic resident there for reasons other than that then I'd be concerned about setting up my residency there. I wouldn't jump to this issue except that there appears to be some issues between her and some "developers" indicated in the OP.
If she passes it on to you guys as a gift, then you have to have the land assessed, pay taxes on the gift (most likely), and then YOU pay the property tax, utility setup, building permits, whatever.
There's nothing sketchy about what you're doing, you guys just need to do it all through the city/county since the land is currently undeveloped.
Talk to a realty lawyer. Talk to a realty lawyer. Talk to a realty lawyer.
don't build anything there unless you buy the lot
And as for the developers, they are pretty much trying to buy out everyones property in the area, and subdivide it. It's a nice rural area, with on average one home per 10acres, and the developers around want to turn it into tiny lots with no yards, as they have done all over the country side here. It's really quite sad.
My wife and I had a long talk about this, and we're unsure whether we want to pursue it, or just try and find a place in town.