Has anyone run into a house owned by one party on land owned by another? If so how could a deal be structured?
This is a permanent brick slab on grade home not a modular. The house is vacant and I am wondering if there might be a deal there since the two properties both would have title issues.
I less this is one of those somewhat common land lease deals up in the northeast, I know of no way for someone other than the land owner to “own the house”. Houses (other than mobile homes) don’t have their own “title”. Maybe someone “thinks” they own the house.
This is called an encroachment. Issues such as this are typically resolved by either removing the encroachment, buying the affected land, or pursuing a quiet title action (if there are grounds for it).
This house is listed on the county appraisal district site with a parcel number, owner and property taxes being sent to one location and note stating that the land is under a different parcel number, owner and property taxes sent to a different location.
Also the value of the land exceeds the value of the house ie. 32acre parcel and a small 3/2 house