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Amended Deed

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T

tabcourt

Guest
Orange County, New York:
I'm buying an adjoining lot. How do I go about "adding" this land to my existing lot via an ammended deed? Is the concept to simply "add" this lot, or do I have to re-do my existing deed to reflect the extended boundaries? Thanks.

-Mark
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by tabcourt:
Orange County, New York:
I'm buying an adjoining lot. How do I go about "adding" this land to my existing lot via an ammended deed? Is the concept to simply "add" this lot, or do I have to re-do my existing deed to reflect the extended boundaries? Thanks.

-Mark
<HR></BLOCKQUOTE>

i'm sot sure what they call it upstate, downstate or on the side, but the concept is called consoldation. Where 2 parcels/lots with different tax
keys are combined into one lot with one tax key. What is your purpose of combining the 2 lots together? It maybe easier to keep it like it is so you have 2 lots and 2 deeds. If you are intending to built a big home on the 2 lots or never sell then it may make sense.
 
T

tabcourt

Guest
Oh yeah, what was I thinking? I surely do not HAVE to combine the two. The second lot will just insure that my property line will extend through and to the other side of a stream. This brings up another question:
Will my property tax liability be better if I did combine them? This second lot is not a buildable lot because of the perk(being so close to the stream). Thanks.

-Mark
 

HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by tabcourt:
Oh yeah, what was I thinking? I surely do not HAVE to combine the two. The second lot will just insure that my property line will extend through and to the other side of a stream. This brings up another question:
Will my property tax liability be better if I did combine them? This second lot is not a buildable lot because of the perk(being so close to the stream). Thanks.

-Mark
<HR></BLOCKQUOTE>

It would appear that your real property tax liability would be better if you left it 2 separate lots because one is unbuildable hence the value less. If the lots were combined, the assessment of the one consolidated lot would be calculated on the basis of highest and best use. Double check with your real property tax office.
 

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