I own 1 acre and want to lease part of it

[Mason Lopez]

My parents own 1 acre. There is a good 1/4 of that land that isn’t being used for anything but holding trailers for a family member in which he pays almost nothing for. It can be modified for more usage if we move the fending around. 

I don’t want to disrupt this exchange of money by being legalistic, I Just thought there is a way to transfer the property into a legal entity and start to take advantage of those tax benefits!

Can anyone shed light on this for me? 

[Giovanny Garcia]

Where exactly is this in San Angelo? If it is in a high traffic area maybe you can rent it out to someone to post a Food Truck or something temporary like that. I am no legal expert so I do not know what else would be involved in something like that but it seems to be something that could be done.