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4 people on the deed

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steffb503

Member
What is the name of your state (only U.S. law)? Vt
Can a deed be written up so that 4 people own the property? Say 2 people with a 45% interest each and 2 people with 5% interest each?
If so can a separate contract be written stating which 5% they own, with measurements and boundaries, to be executed at anytime by any of the owners?

Example: 2 couples want to purchase a large piece of land, construct 2 houses and live and work the land together. But have the ability to separate the two lots and go their own way.(providing the property is sub- dividable)
 


justalayman

Senior Member
After re-reading your post I need to edit mine


Yes, you can do exactly as you as you asked. There are a lot of problems inherent to what you describe but you can do it.

But my question still stands; why not just divide it now?
 
Last edited:

FlyingRon

Senior Member
You can divide up the property into as many undivided interests as you want. You just list them specifically on the deed. I once owned a house split five ways (divided 1/6, 1/6, 1/6, 1/6, 1/3).

You can not in most cases subdivide the property usually in a way which is meaningful just by the deed: Joe owns the front yard, Mary owns the back, etc...
 

latigo

Senior Member
What is the name of your state (only U.S. law)? Vt
Can a deed be written up so that 4 people own the property? Say 2 people with a 45% interest each and 2 people with 5% interest each?
If so can a separate contract be written stating which 5% they own, with measurements and boundaries, to be executed at anytime by any of the owners?

Example: 2 couples want to purchase a large piece of land, construct 2 houses and live and work the land together. But have the ability to separate the two lots and go their own way.(providing the property is sub- dividable)
Before your mysterious "couples" decide to create an estate in cotenancy with plans to construct their separate family residences thereon, they should each check into the nearest medical clinic for the help they desperately need.

And for a myriad of legal reasons that I am not about to explain to someone seemingly prone to hypothesizing with rambling, silly notions as above that appears to have nothing better to do.
 

steffb503

Member
Before your mysterious "couples" decide to create an estate in cotenancy with plans to construct their separate family residences thereon, they should each check into the nearest medical clinic for the help they desperately need.

And for a myriad of legal reasons that I am not about to explain to someone seemingly prone to hypothesizing with rambling, silly notions as above that appears to have nothing better to do.
Sorry if you do not agree with my reason, I really just wanted to know if it was possible.
We have our reasons and I need not explain myself to you.

Thanks for those who took the time to respond like adults.

One couple is not ready to purchase now, one couple is. If we wait we will loose the property. Also we plan to farm the land. If it is divided into two lots neither will qualify for an agricultural exemption.

Can a separate contract go along with the deed as to split it up as we wish, measurements and location? aka front lawn goes to Johnny?
 

FlyingRon

Senior Member
You should not have edited your original post, but followed up with clarification. It makes the thread hard to follow for those who want to help you.

In fact, the property I owned with the four others was somewhat of a communal situation as well.

However, I stand by my original statement. While you can certainly have the property deeded such that you get various percentages assigned, applying those to mean certain structures (or portions thereof) and areas on the property, is NOT accomplished with a simple deed. I would recommend an attorney as to how to either properly subdivide the property so you can deed the parts as desired OR to set up some sort of entity (trust or whatever) that accomplishes what you are truly after.

You won't do it with a couple of internet postings on how to fill out a form quit claim deed.
 

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