I know that in some localities if the lots are non conforming and you own two connected lots the government will try to force you to combine them. One guy I know had his attorney tell him to make sure he kept a fence between them and paid the taxes with separate checks to show intent to keep them as separate parcels. May want to have a discussion with your attorney regarding local practice.
Build or buy existing?
- Thread starter Johnson
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Marctrees
Well-known member
The Homestead tax reduction credit in your area may make it $ sense to combine the two properties.
Worth checking into it, ask your attorney. Marc
Worth checking into it, ask your attorney. Marc
Ditch
Banned
Sounds like you scored a great deal.
Strouty
Well-known member
Waiting impatiently............
dbabicky
Well-known member
Sounds like you scored a great deal. As far as the tax bills go, I would leave them separate. I own 60+ acres and I have 4 separate tax bills to cover them all. I've been paying them with one check forever. I know that things could be different for you living in Illinois, I just know about Wisconsin and it doesn't matter here. The advantage is that if I ever did decide to sell part of it, it's already separate pieces of property.
sqznby
Well-known member
Update: Things got a bit haywire. Owner had 60 days from June 26 to get all personal belongings and such out. In a sad twist, his health took a turn for the worse and ended up in the hospital. Now, just two days from possession, he is in hospital on hospice with only a few days given by med staff. Much of his personal stuff is still in garage, his RV and truck are still parked. Friends and family were very good; checking on him frequently. They have moved a lot out but a lot remains. We're all keeping up to date on the owner's health and they are going to try to get there this weekend and get the rest of the stuff out.
At this point, still can't really get in the garage to do anything and can't really do any fixes to the roof, etc... Wife and I have done (were given permission by owners brother) some mowing and today got in and cleaned up some very overgrown weeds. Deed is recorded and the property is legally mine with possession this Saturday but giving the family and friends of owner some flexibility due to the circumstances. Only concern that was stated recently was of the owner's son, who apparently lives out of state and is said to have heard the news of his father. Apparently some folks are concerned he will show up and try to claim items that may still be in/around the property after it is legally mine. What to do in a case like that? I have no idea if there is a will; who has power of attorney; who has rights to personal effects; etc... I have no desire for personal prop, only the desire to take possession of ground and permanent improvements to said ground.
Just wanted to bump and update. Hopefully soon I can get some pics and show some progress.
At this point, still can't really get in the garage to do anything and can't really do any fixes to the roof, etc... Wife and I have done (were given permission by owners brother) some mowing and today got in and cleaned up some very overgrown weeds. Deed is recorded and the property is legally mine with possession this Saturday but giving the family and friends of owner some flexibility due to the circumstances. Only concern that was stated recently was of the owner's son, who apparently lives out of state and is said to have heard the news of his father. Apparently some folks are concerned he will show up and try to claim items that may still be in/around the property after it is legally mine. What to do in a case like that? I have no idea if there is a will; who has power of attorney; who has rights to personal effects; etc... I have no desire for personal prop, only the desire to take possession of ground and permanent improvements to said ground.
Just wanted to bump and update. Hopefully soon I can get some pics and show some progress.
My Old Tools
Well-known member
If the son shows up and wants stuff you didn't purchase, even though you now have possession, give him 5 days to get it out. The purchase contract should spell out what is purchased. You could charge him rent, but I wouldn't unless he's a ****. That said, once you have possession, since no one is actually living there, you can start disposing of stuff as abandon property.
Pluribus
Well-known member
If your attorney who wrote the deal for you didn't cover (in the purchase and sale contract) belongings left on property after closing, then they didn't do their job. What's the contract say?
Sounds like you're being considerate and accommodating, which is the right thing to do, IMHO. If you were told (verbally) that you got to keep building materials, and there is a clause in the contract about personal property remaining after closing being yours, then you are fine. If your attorney didn't cover this scenario, then my suggestion would be to talk to them and suggest strongly that they need to advise you (for free) on what the law is regarding personal property left on site. Hopefully you will not have to incur significant cost to clean up or dispose of anything.
Things that are titled, such as the truck and motor home, would not normally be covered in a real estate contract. Each state will likely have different rules on titled items like vehicles. If nobody wants them or is willing to remove them, then you will likely have to file some sort of a report of abandoned vehicle report. Depending on your local/state rules, you may be able to petition for title and assume ownership if you follow all the rules to a "T."
Good luck, and congrats!
Sounds like you're being considerate and accommodating, which is the right thing to do, IMHO. If you were told (verbally) that you got to keep building materials, and there is a clause in the contract about personal property remaining after closing being yours, then you are fine. If your attorney didn't cover this scenario, then my suggestion would be to talk to them and suggest strongly that they need to advise you (for free) on what the law is regarding personal property left on site. Hopefully you will not have to incur significant cost to clean up or dispose of anything.
Things that are titled, such as the truck and motor home, would not normally be covered in a real estate contract. Each state will likely have different rules on titled items like vehicles. If nobody wants them or is willing to remove them, then you will likely have to file some sort of a report of abandoned vehicle report. Depending on your local/state rules, you may be able to petition for title and assume ownership if you follow all the rules to a "T."
Good luck, and congrats!
terabitdan
Well-known member
- Joined
- Jul 16, 2016
- Messages
- 152
If this transaction was handled properly the proceeds of the sale are held in escrow until you take possession. I would immediately notify the escrow holder that you do not have full and unencumbered possession since their personal property remains.
I'd request they hold back a portion to cover costs of removal and disposal of the remaining personal property.
Not trying to be a jerk, it's a sad situation all around, but you don't want to incur a bunch of legal fees to get that stuff removed, nor do you want it to remain indefinitely. That escrow is your means to protect yourself.
By all means try to work something out with the family, giving them some time is an honorable thing to do. For everyone's sanity get an agreement in writing as to when everything will be removed and what happens if it's not.
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I'd request they hold back a portion to cover costs of removal and disposal of the remaining personal property.
Not trying to be a jerk, it's a sad situation all around, but you don't want to incur a bunch of legal fees to get that stuff removed, nor do you want it to remain indefinitely. That escrow is your means to protect yourself.
By all means try to work something out with the family, giving them some time is an honorable thing to do. For everyone's sanity get an agreement in writing as to when everything will be removed and what happens if it's not.
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crewchief888
Well-known member
i agree with thumper, due to the circumstances, i'd cut the guys family some slack as far as getting his "stuff" out. one thing i would make clear to them is that after the property is officially yours, they will not have "free run" of the property. i would make sure that they notified you so you could grant them access to remove his belongings.
if the subject comes up with the family, i'd tell them they have 60 days to clear everything out, after that they are SOL
especially with any "Titled" vehicle i'd make sure they had the title in hand before they left with it.
i'd play "nice" with them, unless someone starts being "unreasonable" or demanding. then i'd be involving the local LEO's.
families sometimes get a little "crazy" when it comes to estate possessions
First off congrats on the acquisition, you got a smoking deal.
And second you're getting a lot of good advice already but what terabitdan stated is great advice. As much as it may pain you to cover your *** legally if you don't, you will most likely end up with months of delays and unforeseen costs that will be unrecoverable unless you seize and sell off the assets yourself. Is that something you want to do, doesn't sound like it to me. Sounds like to trying to be a fair and honest person in this endeavor but we all know what happens in the end when you try to be a nice guy.....
Good luck bud, I hope this goes smoothly but I'd plan for the worst to the greater extent.
And second you're getting a lot of good advice already but what terabitdan stated is great advice. As much as it may pain you to cover your *** legally if you don't, you will most likely end up with months of delays and unforeseen costs that will be unrecoverable unless you seize and sell off the assets yourself. Is that something you want to do, doesn't sound like it to me. Sounds like to trying to be a fair and honest person in this endeavor but we all know what happens in the end when you try to be a nice guy.....
Good luck bud, I hope this goes smoothly but I'd plan for the worst to the greater extent.
MikeF2316
Well-known member
I don't know how I missed this the first time around, but I would have had $30k on the table so fast your head would spin. Avoiding contractors is worth the $30k alone!
I'd also be nice to the family getting "their" stuff out, but I'd make sure they knew they had to clear any access with you first.
I'd also be nice to the family getting "their" stuff out, but I'd make sure they knew they had to clear any access with you first.
Sawdustmaker
Well-known member
Just don't let the son "squat" on the property. If he wants to, say, stay in an RV while he cleans things out, write up a very specific rental agreement (with your attorney) and give him a specific time limit to adhere to. Just a thought.
Thanks for all of the advice. Bad news is that the owner passed away this morning. RIP
Good news is that his brothers and friends spent most of the day moving the RV and truck off the property and got most of the personal belongings out. Will be back tomorrow in full force to finish. It appears that everyone is working together to get the job done. Today is the actual day of possession for us according to the contract. The timing is eerie. So, once again thanks for the advice.
Good news is that his brothers and friends spent most of the day moving the RV and truck off the property and got most of the personal belongings out. Will be back tomorrow in full force to finish. It appears that everyone is working together to get the job done. Today is the actual day of possession for us according to the contract. The timing is eerie. So, once again thanks for the advice.
MikeF2316
Well-known member
Also, my condolences on the passing of your neighbour. Raise a glass or two to him in your shop.
bcoke
Well-known member
All parties involved seem to be civil about it , you included , a shame about his demise but better quickly rather than long and drawn out. The deal in my opinion was fantastic, a 24x40 building would run about 40-50 K to build from scratch and the shed and property being attached to yours a home run!!!!!!! If neccessary I would fix the roof first than proceed as you see fit.........good luck.......bobbycoke
https://www.garagejournal.com/forum/showthread.php?t=369195
Continue to follow along at the new thread above in the gallery.
Continue to follow along at the new thread above in the gallery.
6768rogues
Banned
Buy, we bought the land next door to our house 30 years ago and I have no regrets. And no neighbors.