Splitting a vacant lot between neighbors

[ikeroberts]

What is the name of your state (only U.S. law)? Indiana
My neighbor and I have talked about buying the vacant lot between our properties and splitting it in two. Each half of the lot would be added to our own properties. We want to do this to prevent the lot from being developed. What is the best way to go about this? I'm thinking that one of us will have to buy the lot, do the necessary legal work to divide the lot then sell one half to the other. Maybe there is a shorter route that I don't know about. I don't think there are any major zoning hurdles, since the lot will not be developed, it will be split to enlarge already developed lots. This is a six acre lot in a rural area. Any thoughts on this?

 

[Zigner]

What is the name of your state (only U.S. law)? Indiana
My neighbor and I have talked about buying the vacant lot between our properties and splitting it in two. Each half of the lot would be added to our own properties. We want to do this to prevent the lot from being developed. What is the best way to go about this? I'm thinking that one of us will have to buy the lot, do the necessary legal work to divide the lot then sell one half to the other. Maybe there is a shorter route that I don't know about. I don't think there are any major zoning hurdles, since the lot will not be developed, it will be split to enlarge already developed lots. This is a six acre lot in a rural area. Any thoughts on this?

You are going to want an attorney to help you with this. It is beyond he scope of an internet forum. Best of luck to you.

 

[adjusterjack]

Any thoughts on this?

I agree that you will need a lawyer but I do have some thoughts.

1 - Go to whatever government agency is appropriate and find out if the property CAN be subdivided and what the process is and how much it would cost.

2 - Contact the owner of the property and find out if he is willing to sell it and find out how for how much. Ask him if he is willing to subdivide it and sell each of you half with the two of you, of course, paying the cost to subdivide.

If he doesn't want to do the subdividing but still wants to sell, then you and your neighbor can review your options.