We would like to own the basement of a Residential house. Is this legally possible? If so what would be the wording used and what kind of legal document would I need? Thank you for your time!!US Real Estate LAW:: Can a House be split into 2, as far as title or deed is concerned?
anything is possible, but here's why I do not believe this to be possible, a lender will probably not lend money to someone who ownes a home without a foundation. Technically, if you own a basement, you own the foundation to the home. if your going to split a home it 2, draw the line horizontally and make the placed into a duplex, this is easier and completed all the timeUS Real Estate LAW:: Can a House be split into 2, as far as title or deed is concerned?
First you need to check the zoning laws to see if a split can be done legally. Since it is a basement, do not get too optimistic. If that flies, check with an attorney to see what kind of an option you have on a legal structure. Then talk to your lender. It probably will not work.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment