Selling co-owned hunting land

10/25/16 @ 6:41 AM
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Gods Country
Gods Country
USER since 8/6/11

I currently own 60 acres of land with a friend and due to financial reasons am looking to sell my half.  The co-owner does not want to buy my half so I would be selling to an unknown buyer.  Has anyone ever gone through this and can I expect someone to be interested in the land.  It is prime location 5 miles from Appleton, my friend bow hunts occasionally and it gets gun hunted very lightly by her boyfriend and his son. I understand the parties would have to meet and talk about what each others expectations are and that I would sell cheaper than "normal" under the circumstances.  I'm just looking for thoughts on what kind of interest I can expect or if anyone has bought/sold land with a similar situation.

  Thanks for any feedback....

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Displaying 1 to 10 of 19 Posts
1/12/17 @ 5:49 PM
Pwerfred
Pwerfred
USER since 9/10/14

You need to know how title to the property is held. If its joint tenants, you each have an equal, but undivided interest in the property. Both parties must agree to selling it. If it's held as tenants in common, you each half a 1/2 interest in the property. Kind of like shares in a corporation, which can be sold without the others permission. 

You could survey the property into 2 equal parts and quit claim each other's interest in each other parcels. That would make one parcel yours, and one would be his. You could do whatever you want with yours at that time.

Without a lawyer to legally separate the property, you're kinda stuck with the property. That's why owning property with unrelated people takes lots of forethought before the purchase to iron out these kinds of scenarios that eventually come up later down the road

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1/12/17 @ 11:23 AM
.Long Barrels
.Long Barrels
USER since 12/9/14

Well let "friends" go then,  cash under the table.  there are a lot of ways around a lot of things.  

Like my basement remodel.  the Egress windows are too high for a for the city to consider it a bedroom,  so it's not a bedroom,  it's office space..  

Edited on 1/12/17 11:25 AM
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1/11/17 @ 7:14 PM
olswampdog
olswampdog
USER since 10/6/04

I doubt he could lease it seeing it is co-owned, land man would probably have a better handle on that. Maybe the boyfriend should cough up the cash, if he's able, seeing it's in his benefit if he still wants his "own" hunting spot. Sounds like a disaster waiting to happen though.

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1/11/17 @ 1:34 PM
.Long Barrels
.Long Barrels
USER since 12/9/14

How can you sell land that was bought together if he doesn't want to sell? If he says no he ain't buying it from you unless it's a lower price...I don't think he has to agree to anything.  What you should do if it gets ugly is lease it out to 4 people for bow and gun.  I think he'll change his tune.

I don't know how legal action would do anything if you didn't create a dotted line in case something went south.  How do you divide up land that has no lines.  You and your buddy will never be good buddies again I can see the writing on the wall here.  I'm just speculating here as i'm not a lawyer,  but I'll guess this won't be easy.  I'm sure you'll find a buyer if he agrees to it,  dummies buy land the butts public on three sides...i'm sure you'll find someone that will buy co-owned.

Edited on 1/11/17 1:47 PM
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1/11/17 @ 12:34 PM
Pwerfred
Pwerfred
USER since 9/10/14

talk to whomever issued your title insurance to verify how the title is held and then consult an attorney to find an equitable solution.

How property is held between unrelated parties can be tricky. Hopefully, your Realtor, Banker, Title agent or attorney gave you good advice prior to the sale. Otherwise, it may take legal action to clear things up

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12/26/16 @ 5:48 PM
Plmlk
Plmlk
MEMBER since 12/18/07

Wow, what a tough situation.  I would not be interested in purchasing someone's 50% interest.  Just read some of the posts on the hunting threads on Lake-Link.  Some folks put their time in hoping for a quality buck, other folks don't like the taste of tag soup, so they don't mind shooting a doe or two.  There isn't a right or wrong answer - just have to accept that people are different, and if the other owner doesn't see things the same way you do, it could be some tough sledding. 

Some good advice below from Lota Lota and Ihookem - just thought I'd offer a few thoughts on a stranger's perspective to buying co-owned hunting land. 

 


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12/21/16 @ 5:43 PM
griff n
griff n
USER since 6/17/11

Probably at least 40 years ago 6 of us bought 160 ac together. At that time we went to a lawyer who had dealings with this type of transaction. One of the things we had to agree to was that at any time going forward we wanted out we would only get out our orginall investment. Does two things for sure, makes one really look for money from a different source, and keeps the other 5 protected from having to come up with a big buyout as the land over the years greatly increases. Also had to agree that if we wanted out, the 5 left had first option to buy out. Because the land value has incresed greatly the 5 would surely take that option. When money is envolued a lot of things can happen. Luckily we have had no issues what so ever, plus we get a long with all our niebhors. We had other things we agreed to legally and have a set of rules to follow also. Best advice is to get legal advice on any venture.

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12/20/16 @ 1:38 PM
Sturgeon Patrol
Sturgeon Patrol
USER since 2/5/10

Gods Country,

Please contact me and Id like to see what you have.  Use the messenger feature here.  Thanks


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11/8/16 @ 11:22 AM
land man
land man
USER since 9/12/06

You are in a tough spot.  This is why I HATE co-ownership of real estate, but it does make me some good money every year when I appraise it as part of disputes.

You have a few options:  1) Try to sell your partial interest- This will be tough and expect a heavy discount from market value.  20-50% is common- if you can find a buyer.  The reason for the discount is the other co-owner can use the land almost any way he sees fit and you can't stop him.  A 1% owner of a parcel of land can hunt it and invite 50 of his closest friends to join him and you can't do anything about it. 

2) You can see if the other owner is willing to divide it- each of you gets some land and you can sell yours. 

3) You can hire a lawyer and file a partition lawsuit.  This will be costly, and may result in a forced sale (Sherriff's sale) of the parcel or it may be divided like in option 2.  I have seen both occur depending upon the judge's decision.  Also, if you file the suit, the co-owner may buy you out or divide the land without a judge's ruling, but you will incur substantial legal and other costs (appraisal, survey, etc).

My advice to the rest of you is this: DON'T HAVE CO-OWNERSHIP of real estate. 


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10/25/16 @ 9:07 PM
ihookem
ihookem
USER since 11/29/01

Lota Lota is right. You , to some degree have legal rights to sell out. They get first rights but dont want it. They should also take this seriously too though cause a judge  can make a decision. I had a problem once with a property up north that had an easement through it. The old owners nephew thought he could still use the easement . There was a clause in the  deed but was so poorly written it didn't make much sense, or could mean anything  .  This nephews kids ran me down so bad I talked to a lawyer. He said the deed was so poorly written that if the nephew took me to court a judge would look at it and decide. It was called " a calming of the courts" . It is a decision made by the judge and depending on the judge, he could decide in yours , theirs or a fair decision.   They were all bark and never took me to court. Never heard form them again . Hope it goes well and the property is in three parcels and should not be too hard to  do something called a " Quit Claim" It is very easy . We had ours done at a bank at no charge to us 5 kids when dad split up 26 ac, in Shawano co. Us 5 kids owned 1/5 each  but was one parcel. Then we split it up in 5 parcels . Problem was, legally us 5  owned 1/5 of all 5 parcels . A " Quit Claim " was in order. Like the other poster said, the 26 ac. seems practical if it seems equal in value to the other parcels in value per ac. Again, a calm collective approach is best. No insults, to yelling. It is to their advantage too cause you could sell this to any  ball slinging jackbass and such a person could make their investment all but useless if this happens and you or them dont want that. Later, Ihookem.

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