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i have two sperate deeds in my dads name he put the two lots togeater for taxes i brought both lots put them in my name on one deed but i want ta split them back into two deeds
To start with, this applies in California. Things may be different in your area.
You're likely talking about two different things. The County Assessor has what are called Tax Parcels that they use to send you a tax bill and determine the amount of that bill. A Tax Parcel can represent any number of contiguous parcels, or portions of parcels. It's not a legal lot, it's just a way for the assessor to keep track of what it's assessing!
So you may still have two separate -legal- lots if all he did was a tax parcel combination. If he went through a formal lot merger and turned the two legal lots into one, then it's a different story, and you'll be looking at a Minor Subdivision to restore the two legal lots.
I would call the County and inquire as to the status of the legal parcels (Start with the assessor for a Tax Parcel history. You'll find out when the two tax parcels were combined and the trigger for that being done, which will lead you to to the legal parcel status.).
Between the Assessor and the County Surveyor, you should be able to get information on the properties for free.
What if the property (consisting of two separate adjoining parcels) has a mortgage, however, the parcel with the residence has a market value WELL above the outstanding mortgaged amount, and this can be proven with an appraisal?
What if the property (consisting of two separate adjoining parcels) has a mortgage, however, the parcel with the residence has a market value WELL above the outstanding mortgaged amount, and this can be proven with an appraisal?
It's up to the mortgagee as to whether they will release collateral which secures their loan. You can always ask them. If there is still significant collateral, they may say 'yes'. Or they may attach conditions to any release--such as paying down a portion of the loan.
Two deeds, two houses when one son purchased an acre lot his father was told to combine the two deeds into one. There was a plan drawn up but never followed thru; meaning no new deed showing this two lots of land were every put together as one legally. Now the father passed away and my question is what do you think is legal. Are both properties still separated with their original deeds or does the plan alone make this one joint property??
Two deeds, two houses when one son purchased an acre lot his father was told to combine the two deeds into one. There was a plan drawn up but never followed thru; meaning no new deed showing this two lots of land were every put together as one legally. Now the father passed away and my question is what do you think is legal. Are both properties still separated with their original deeds or does the plan alone make this one joint property??
Deeds are used to convey property. There is usually a separate local process to combine or to split property. If nothing was ever done there would, of course, be no change.
Your description is a bit unclear, but does each house/lot receive a separate tax bill?
Two deeds, two houses when one son purchased an acre lot his father was told to combine the two deeds into one. There was a plan drawn up but never followed thru; meaning no new deed showing this two lots of land were every put together as one legally. Now the father passed away and my question is what do you think is legal. Are both properties still separated with their original deeds or does the plan alone make this one joint property??
You answered your own question. If there are two separate deeds recorded for the two parcels, then they are two parcels.
What if the property (consisting of two separate adjoining parcels) has a mortgage, however, the parcel with the residence has a market value WELL above the outstanding mortgaged amount, and this can be proven with an appraisal?
I am in the same situation. My parents have 2 parcels seperate, but want to gift me the raw land that has no house. The have alot of equity in their home. The lender says we can send in a request to split the lots. Did you find out if it can be proven with an appraisal?
You should really have started a new thread instead of asking someone who last commented on the subject 5 years ago. Talk with your lender and your local municipality (city or county). The answer will likely not be the same in all areas of the city/county/state. Often times, you can request a zoning variance but it won't be cheap.
I am in the same situation. My parents have 2 parcels seperate, but want to gift me the raw land that has no house. The have alot of equity in their home. The lender says we can send in a request to split the lots. Did you find out if it can be proven with an appraisal?
Since the lender said to send in a request to them, that is what you should do. If the amount of equity is obvious, they may agree to release the one lot from the mortgage without the need for an appraisal.
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