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Old 08-11-2014, 03:13 PM
 
578 posts, read 571,700 times
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Can you, in Massachusetts, lease land to build a residential structure on? I know that there would be concerns with this arrangement, but I am thinking of a case where a large piece of land is stuck with several relatives owning it, not wanting to parcel it out, but needing to pay the real estate taxes on it. It would be one of the relatives who would build on the land, pay a "lease" to the familly which would then go to pay off the total real estate taxes of the property. Also, would a bank even make a construction loan in such a situation?
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Old 08-11-2014, 07:42 PM
 
Location: Needham, MA
8,543 posts, read 14,020,436 times
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You can absolutely lease land. It might not be easy to find a bank who will give you a construction loan, but I'm sure if you look hard enough you'll find one.

Regardless, this situation seems primed for problems either in the immediate future or maybe down the line. You're far better off subdividing out this parcel and giving the relative that wants to build sole ownership of it.
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