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Originally posted by photobug
I also agree that a partnership is a bad idea but a contract that would split the land and give full ownership of say half to each of two persons would work. Of course there would have to be a buyout clause and two owners could work cooperativley towards mutually benficial survival itmes such as a jointly owned power system but more importantly they could work cooperatively and things such as farming hunting, and protection. Both parties could work the land cooperatively as a whole even though as individuals they would only own half of the parcel. It would be more like a good neighbor thing with the begginiing cooperation being to pool resources to acquire the land.
Suppose two individuals could come up with 25% down it may be possible that the owner would hold the note for a short period of time say 36 months so basically after the down two people would have 36 months to pay off the reamining 75,000 or so. thats approx 12,000 per year per person. A very doable amount. In my case If I wa do do something like that I own a business that could be be ver esily replicated in another part of the country and would be able to assist the other person in setting up a business that could easily generate that amount of cash. So keep it in perspective It's a very doable project for anyone that can muster up 10 - 20 grand and be able to put 1000 - 2000 per month into the deal for three years.
Originally posted by LLoyd45
I believe to do what your planning would also require that you have thre property surveyed off into tracts, I may be wrong though. That could get rather expensive depending on how many tracts you're talking about.
Originally posted by jsobec
This is extremely cheap and is likely because there are no improvements on the land. If you are budgeting, be aware that taxes will increase as you add improvements. You can verify the taxes at the local assessors office; they are public record. Make sure there are no tax liens on the land, else you'll be responsible for them.
Also has the lot had a perc test? You'll want to make sure it has, or that's another expense you'll be looking at...
Good luck.
Originally posted by photobug
Allodial title is a concept in some systems of property law. It describes a situation where real property (land, buildings and fixtures) is owned free and clear of any encumbrances, including liens, mortgages and tax obligations. Allodial title is inalienable, in that it cannot be taken by any operation of law for any reason whatsoever.