Posted by Kevin_TX on March 12, 2002 at 23:58:07:
If someone exercises their option in 2 yrs, will the original Lessor’s note holder allow a partial relase of their property? Just another question to ask.
Acreage into Lots - Development question?? - Posted by Aaron-IA
Posted by Aaron-IA on March 12, 2002 at 09:44:45:
I’m looking at a ~$400k property that includes a very nice house and 10 acres of land. The owner will sell to me on a L/O. I plan to sub-L/O and that’s that, but his land could be developed into 2 more very nice lots and still leave his house w/ about 5 nice acres. My question is two fold:
- Is splitting parcels of land into separate lots expensive or very lengthy timewise? Anyone with experience here?
- If I only L/O, is there any way I could sub-L/O a portion of the yet-to-be-split property, or is that just begging for trouble?
My opinion is that it might be a great opportunity for my buyer. I would like to do it if I can do it simply and legally, but I don’t see how at this point. Thanks to anyone for their input.
Aaron