When I got married in 93', my father gave me 6acres, and my sis her 6, it's not subdivided, and still in his name and my mothers, and not sure if it will perk, only been used for planting, etc.
We are in Maryland, can anyone help me get started?
2007-05-29 08:51:08 · 4 answers · asked by tamilynn 3 in Business & Finance ➔ Renting & Real Estate
Get you started on what ? You have NO land. All you have at this point is your father's statement that he WILL give you this land. In order to actually have this land, you must transfer title of it to your name.
Expend NO money until it is deeded over to you, on perk tests or anything else. Also be cautious on your father's behalf concerning gift taxes. He is allowed to give to you a maximum of $12,000 in cash OR value to you each year without incurring gift tax. This gift will occur in the year in which you gain title to the property.
2007-05-29 08:57:05 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
1st. have land perk tested.
2nd. If it does, survey your 6 acres and have it platted at the court house with title and deed.
3rd. if it is farming land you'll most likely have to have the zone changed to residential in order to build on it.
2007-05-29 16:06:19 · answer #2 · answered by Al B 2 · 0⤊ 0⤋
if your parents are still willing to gift the land, then hire a local lawyer to help with the transfer and division of the land, do you know which part was gifted to you and your sister or was it just i will gift part of land to each? have to start with what part, then move for transfer and survey ,
2007-05-29 16:53:25 · answer #3 · answered by goz1111 7 · 0⤊ 0⤋
you ask a farmer in maryland
2007-05-29 15:54:56 · answer #4 · answered by jette n 3 · 0⤊ 0⤋