Can someone explain this to me

[Grapesoda]

100 acres for sale, this is in the description

THIS IS AN 25% UNDIVIDED INTEREST IN 100 GROSS ACRES.*

Not sure why the ad is not 25 acres for sale or is this a 'partnership' somehow?

[Forkbeard]

Let's say you have three siblings, and the four of you inherit 100 acres of land.

You each have an undivided 25% interest in the 100 acres. You can all access and use the 100 acres; you each have an equal right to be there and to exclude everybody else in the world (except the four of you).

But you typically (laws vary by state) can't do anything to diminish the rights of your co-owners. You might not be able to cut the logs and sell them, building any permanents structure might be tricky, and selling off bits of it would be right out.

This is such a fucked-up state of affairs (it always leads to fights) that if the land is of much/any value, somebody usually goes to court with a petition to sever their interest. Which is to say, they ask the court to give them clear title to their own 25 acres, which they can then use or sell without limitation.

Only, it's expensive! Because you need a survey. Except for perfect pasture, the acres aren't equally good; there's hills and ditches and swamps and access issues (where is the driveway?) and all kinds of problems dividing any parcel fairly. If you and your sibs can draw a line on the existing plat that you all like, getting a lawyer to run that through the courts won't be too bad. But if you don't agree? Or, like, just one sib wants to do it, but the others do not? Then the one sib has to pay for a surveyor, and maybe some assessors/appraisers, to draw and propose an equitable VALUE (not equitable acreage) division. And he/she will always wind up in court FIGHTING about the division with some sib who thinks the proposal is not perfectly fair. That gets REALLY expensive; in rural places where land is only a few thousand bucks an acre, the fight is never worth paying for.

And that's why somebody owns 100 acres jointly with three other people. The fool who BUYS this interest will own those acres jointly with three strangers. If this is prime development land in a major urban area, then maybe the cost of getting it divided will be worth it. But generally? No. Perfect nightmare. Barely worth it if the land was free.

[Grapesoda]

That's what I was thinking, unless you can sell the land for profit not worth doing

Thanks...

https://www.zillow.com/homedetails/0-County-Road-2138-Henderson-TX-75652/2077479382_zpid/?utm_source=email&utm_medium=email&utm_term=urn:ms g:20201016220022a9c853f69d0b3970&utm_campaign=emo-MarketReport-hothomeimage&utm_term=urn:msg:20201016220022a9c853 f69d0b3970

[Forkbeard]

You're welcome. I'm laughing because I see the phrase "O'Flanagan Heirs" in the property description.

I can't make out at the resolution of the aerial photos whether those are roads, utility lines, or natural gas pipelines criss-crossing the property, but my instant impression is that it is absolutely HAMMERED with easements. And the surface disturbance (treeless areas in an area where other parcels seem evenly covered in light forest) is so chaotic, it suggests some weird parcel history like lots of little oil wells or something. My guess is that it's a mess even if you could own it in fee simple without three O'Flanagan heirs breathing down your neck.

The only context in which this might make sense is if, say, you wanted a parcel where you could go hunt deer or pheasants or something, but for that, you'd want something a bit less chaotic. And even then, you'd probably wind up in a stupid war with the O'Flanagan heirs who are mad about you setting up a deer stand in their favorite spot or whatever.

I love to look at stuff like this, even when my takeaway is "oh, hell no." Thanks for sharing!

[Grapesoda]

There is some nice stuff out there. Check this


2104 Fm 779, Mineola, TX 75773 | MLS #10119939 | Zillow
https://www.zillow.com/homedetails/2...00000000_1pt02



This what I'm hoping for

[ilnjscb]

Don't do it

[Grapesoda]

Originally Posted by ilnjscb

Don't do it

yeah be a really bad plan for sure

[Forkbeard]

Originally Posted by Grapesoda

There is some nice stuff out there. Check this


2104 Fm 779, Mineola, TX 75773 | MLS #10119939 | Zillow
https://www.zillow.com/homedetails/2...00000000_1pt02

Yeah, that's a lovely home in a lovely setting.

[Grapesoda]

My dream home