thinking of selling 25% of a lake front i own to gain some badly needed cash flow < good idea? or bad one? little input on sharing property would be nice to please. as this is a first for me. thx alot in advance Kipp
How would you sell part of your property? Do you have different tax assessor parcel numbers on your lot? Can it be sold in different parcels?
Why not check with your county tax assessor on this idea. If it is all one parcel, you have to do a lot split. You would need to check with city or county zoning to see if that is possible. A lot split will require a survey and title insurance work. This will not be a fast way to raise money.
Are you talking about selling a portion of your lot/house or a portion of your equitable title? If the latter, you can split it up any way you want. The new partial owner will probably want to be on title ie. tenants in common