Handling gifted land

[NKSmith6]

My husband and I are going to be given an acre of land that his parents own so we can build a house. This property is in Michigan. Our question is: What is the best (probably the easiest and quickest) way to handle the transfer of this land? Do we have to get the land surveyed? What type of deed? Do we have to have a lawyer or is this something we can handle on our own? Thank you in advance for your assistance.

 

[David J. Miller]

Use a lawyer to file a quit claim deed, which deeds the property to you. Consult a tax professional on the tax implications. (There is gift tax over $10,000.00 in MN, not sure about MI.)

If the acrea of land is currently part of a bigger peace of land, you'll need to sub-divide the land so subject acre has it's own legal description. Honestly, I don't know what this entails exactly. Your local community development agency may be a good source of info.

If the acre is already subdivided, check the county for an existing survey or get your own survey if you feel one is needed. Check with municipality on land use and make sure there are no restrictions on acreage. The attorney you hire to do the quit-claim deed might be able to assist you on this.

There may be more or less to do. But this will give you a good start. Key, is hire an attorney and he/she will guide you.

I'm not an attorney.