Buying land from father who has mortgage

[dmplatt]

What is the name of your state? Florida

My father lives on 10 acres in Wesley Chapel, Florida. He has a mortgage and I believe it's zoned as AR1. I would like to buy 1 acre from him. Can this be done and what would we need to do?

 

[seniorjudge]

You need to go to a real estate attorney. The lender may have a condition in the loan papers that says that a transfer will cause the whole debt to become due.

 

[HomeGuru]

What is the name of your state? Florida

My father lives on 10 acres in Wesley Chapel, Florida. He has a mortgage and I believe it's zoned as AR1. I would like to buy 1 acre from him. Can this be done and what would we need to do?

**A: he would need subdivision approval and a partial release from the lender among others.