All Forum Posts by: Adrian G.

Bill,
I thought I was saying it haha,I just want to break up the land to smaller pieces and sell it as undivided fractional interest (with no owner having exclusive rights, which is allowed). I will look into the liability policy, This land is basically forest land, its deep in the woods and not buildable and has no road frontage so there is not much use even though there is a "use".

Bill,
It will be disclosed to buyers and be sold as regular real estate and deeded as fractional interest ownership. (I came up with this after I purchased the same thing from the state).SEC was not involved haha. Im not trying to market it here on the site but as of now its only an idea.

Bill,
I am just gonna answer your questions as I read them so please bare with me haha.

Yes tenants in common with the interest not disclosed at this time (not sure yet).

I dont know if its insurable, at least not to my knowledge since its not buildable. ( I did ask a few different places and they said I could not insure non-buildable land covered with trees but I will check again).

No financing, it will be all cash buyers, There is no road frontage so Im not sure if there are agreements and I would need to find out about other easements to the property (Im sure there is one). There will be no community well or exclusive water rights since everything is undivided ownership.

Basically its all forest land with a small water frontage and its not build-able so I was thinking about breaking it up and selling it as "pieces". (Which the county allows).

Undivided fractional interest is when "A buyer" acquires an ownership right to use and possess the property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.

I was wondering if anyone knew of any problems with subdividing/selling a large piece of land with undivided fractional interest....Anything issues come to mind?

The aspalt idea is not bad, I just thought about doing it with cement but I like that better. Hopefully I can get something started this year and I will post my findings/hassles out on the forums.

I heard someone on here say.....

"Everyone thinks the developer is the one with the money, he isnt. He is the one with the idea"

Yeah I figured that is something I would have to accomplish after finding the perfect lot haha.

Sherry,
Thanks for posting the link, I have seen that house numerous times and I love the it. What scares me about the whole process is that alot of residential contractors wont touch it because theres tons of "steel work" and they wont touch it. Which now leaves us with commercial contractors who automatically charge triple. Eekkk