Posted by linda on January 25, 2001 at 02:32:57:
Thanks a million for your follow up. Your information is exactly what I found out today. The properties are on one deed and do show 2 separate tracts. Therefore, nothing will have to change. Thanks again for the follow up. This is an EXCELLENT site for information.
2 duplexes on one deed - Posted by linda
Posted by linda on January 24, 2001 at 03:06:52:
I’m in contract on 2 duplexes on same deed and I’m being told by mortgage broker they will have to be split for financing. however, when speaking with a surveyor in that town, I was advised there may be issues because the property is grandfathered under a zoning that has since changed and if split, it will be a non-conforming lot; therefore insurance problems. How can I find financing for property as it is (one deed…2 tracts)?? please help. thanks in advance.
Re: 2 duplexes on one deed - Posted by JPiper
Posted by JPiper on January 24, 2001 at 10:38:51:
The question is whether these duplexes are separate parcels. This isn’t clear from your post to me. If they are separate parcels then the fact that they are on “one deed” is irrelevant…they could be deeded separately. I’ve bought packages from lenders where the properties were deeded on one deed, but each property was a separate parcel and legal description. If this is the case then the properties can be separately deeded, eventhough only one deed now exists. If the duplexes are on one parcel, then that’s a different story. Which is it?
JPiper