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What You Need to Know When Selling Family Land
over 1 year ago

If you're about to be the beneficiary of a gift but the title of ownership or deed isn't in your name yet, then you're going to need to receive a transfer-of-ownership form from the executor of whatever estate you inherit (this person should have been appointed by a judge during the probate process) and sort through all documentation required. For example, you may not want to do anything long term with this property until the capital gains tax, property taxes, and all other taxes are handled appropriately. To ensure that everything is handled accurately, it would be a good idea to work with an accountant and lawyer if you don't have one already handy. Once you become eligible for ownership, here’s what could happen next.  Get more info on how you can sell vacant land Georgia here.

Selling inherited land gives you the option to sell a lifelong asset at an attractive price, especially if the land isn't being used by the previous owners. Some families keep land for sentimental reasons, but most people don't realize that land can often be difficult to sell, due to the fact that it's not in high demand compared to other properties. Selling your inherited land can relieve you of having to care for lots of acres and instead allows you and any other parties responsible for selling the land a chance to divide financial assets once there are interested buyers who have acquired the property. Selling your inherited land is quite different from selling a house so it'll help to work with a realtor who has experience with this type of sale, along with working closely with an attorney specializing in legal issues connected with selling large plots. Know how  we buy land Georgia here!

An attorney is useful if you have reservations about a particular piece of land. For instance, when selling land, it might be helpful to draw up a contract stating that the land can't be used for hunting or housing development within 5 years of being sold - something which would need to be agreed upon by the buyer prior to completing the purchase.

We all know how great life is as an adult with a yard, but can you imagine going from no land to having several acres? That’s a lot of space to play around with! Throwing in the added benefit of being able to have your home built and designed exactly how you want it is icing on the cake. But even if building your own dream home has been on your radar for quite some time now, we should remember that there are various steps involved before one can move forward with those plans. Here's a few things you need to take into consideration beforehand.  Read more on this link: https://en.wikipedia.org/wiki/Real_estate_development

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