Selling a home along with separately owned adjacent lot.
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Selling a home along with separately owned adjacent lot.
My parents own a home in Mechanicsville, Virginia (my parents and I are all named on the deed but I do not live with them in the home), and I solely own the vacant lot adjacent to their property. If they want to sell the home along with the vacant lot, do we need to take any steps prior to putting the house on the market? The vacant lot has to be sold with the home because it was the only place they could put a drainfield for their new septic system.
Asked on June 25, 2009 under Real Estate Law, Virginia
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Not sure what you are asking. What steps? If they don't own the vacant lot, it cannot be on the same transaction because the HUD agreement would be wrong/misleading. It would most likely be two separate transactions but closed together.
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