Could someone assist me with a real estate question (Sorry if this is the wrong forum for this question)
I recently received a letter asking if I would be interested in vacating a portion of a street that lays between our two properties. Doing so would split the 50 foot easement between us adding 25 feet in depth to each property. What are the implications of this?
Currently there is no access to this side of the property, but my worry is that this will hurt the value if some future owner wishes to break the lots in half, because the rear portion will have no access.
I'm sorry if this comes off as a little confusing, thank you for any assistance or incite you have. If you need more information please ask ... thanks again.
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Ocelot II
(119,038 posts)This stuff gets complicated and depends a lot on state and local laws.
eallen
(2,969 posts)You might want to put a garage back there.
Does the city currently maintain the street? Who uses it? For what? If the street becomes partly your property, will you pay more tax?
Too many variables for a simple answer. Yeah, an experience real estate agent who knows the area would have some relevant views.
SarcasticSatyr
(1,232 posts)Currently there is no street there, it is undeveloped, the street terminates about 1 block from my property. However, this does not preclude the city from extending the road as the area develops and more houses eventually get built.
LuvLoogie
(7,388 posts)Ask whether you are grandfathered in on any zoning advantage/autonomy. Ask if any change subjects you to newer ordinances, which may lessen your control/rights on your property.
Submariner
(12,598 posts)not a shady TSF following fascist maganazi, who might contact your solicitor for an inside information payoff to screw you.
My apology for sounding coarse. I just don't trust anyone anymore.
SarcasticSatyr
(1,232 posts)all the local real estate agents are fascist, greedy assholes.
Deuxcents
(18,308 posts)Someone wants it for something and not knowing or thinking its not being used so what to do, I would get advice and sit on it for a while. Is this parcel included in your strap number/ property ID? Be careful with real estate in Florida people come from all over with schemes and scams
SarcasticSatyr
(1,232 posts)I've lived on this property since 1964 (I was one year old when my parents bought it and built a house)
58Sunliner
(4,932 posts)Talk to zoning, and a lawyer if you can't figure out the implications for this. It sounds like the neighbor wants to add to their lot, which may be substandard, with the goal of splitting the lot and/or building another house on the rear of the property. Is the easement impassable and not maintained by the city/county?
SarcasticSatyr
(1,232 posts)correct , the easement is unpassable (by car anyway, you can walk through it if you're careful) and it is not maintained.