Buyers agree to buy home on five acres. I actually own ten and my deed ( in my name only) shows these ten acres with discription boundaries etc for the full ten. I want to keep 5. Don't want costly subdivision process yet. The buyer will require a deed showing ONLY the home with the five acres. Can I make 2 deeds from the one I currently have and is registered. These deeds would be from myself to myself. Each describing (after I have it surveyed) the respective 5 acres. I have a mortgage on my property which would be paid off once home is sold and the way it stands now, it would include all 10 acres which neither buyer or myself want. Can I do the deeds even though property is mortgaged. This way I would have the proper deed to convey to the buyer. Any other solutions would be appreciated, just not subdivision.
Submitted by tl2011 on Sun, 07/31/2011 - 09:01
Posted in
sub-divide
Sorry, but if I were in your position, I would sub-divide. Talk to a local real estate lawyer.