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Partial ownership of warranty deed

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justtoknow

Junior Member
What is the name of your state?What is the name of your state? Deeded in Florida

I have a 1/3 interest in land (per warranty deed). The 2/3 owner wants to develop the property. In order to do this the land must be divided into separate residential lots to build the proposed dwellings. I am not sure I am ready to go forward with the plan. Can the 2/3 owner proceed without my consent (due to his majority holding)? Could I require that the property be subdivided into separate tracts based on share of ownership and deeded solely to the owner of that share? Thus, he can develop his land as he sees fit. He also is suggesting the property be put into an LLC. It is currently held in his name (for tax records) with warranty deed establishing respective share of ownership.
 
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HomeGuru

Senior Member
justtoknow said:
What is the name of your state?What is the name of your state? Deeded in Florida

I have a 1/3 interest in land (per warranty deed). The 2/3 owner wants to develop the property. In order to do this the land must be divided into separate residential lots to build the proposed dwellings. I am not sure I am ready to go forward with the plan. Can the 2/3 owner proceed without my consent (due to his majority holding)?

**A: yes, he can proceed with the plan but until you agree and sign certain documents, there can be no subdivision approval.
**********
Could I require that the property be subdivided into separate tracts based on share of ownership and deeded solely to the owner of that share? Thus, he can develop his land as he sees fit.

**A: yes, that is one option.
*****
He also is suggesting the property be put into an LLC. It is currently held in his name (for tax records) with warranty deed establishing respective share of ownership.
**A: you should consult with an attorney if he wants to proceed.
 

justtoknow

Junior Member
Thank you. I gather then, that the land cannot be subdivided to new lots because I would have to be grantor of my share of warranty deed to the new owner/s. Could I possibly be forced into a buyout situation on his terms?
 

HomeGuru

Senior Member
justtoknow said:
Thank you. I gather then, that the land cannot be subdivided to new lots because I would have to be grantor of my share of warranty deed to the new owner/s. Could I possibly be forced into a buyout situation on his terms?
**A: yes, in a partition if his terms are reasonable.
 

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