Another question came in from a viewer asking: “I have a friend who is also a neighbor who would like to purchase a portion of our land, can we even do that?”
The simple answer is that it depends, but more than likely you will be able to. There are a few things you’ll want to think about first. The first question you will need answered is if giving or selling this portion of land will put you in a non-conforming status. You’ll want to confirm with your building inspector that you will remain in conformity with your town zoning bylaws.
You also need to take your mortgage into consideration. If you have a mortgage on your property and you sell your land to your neighbor, that land will need to be in compliance with your lender. You will have to get a partial release of that mortgage which will allow a parcel to be excluded from the mortgage contract.
Something else you will want to think about is granting an easement. An easement is the right to use land you don’t own. Regardless, you’re going to want to gain the services of a licensed engineer, a professional to gather measurements and map everything out so that you are able to have these documents recorded properly with the registry of deeds.
Your last option in this situation could potentially be a land swap. If it is at equal value you can do it without money being exchanged. This still requires a land surveyor, who would measure it out and create new parcels. Once created you would then trade those through the quitclaim deeds and then record them at the registry of deeds.
If you have any questions about selling your land or taken part in a land swap, contact Stiles Law by calling (781) 319-1900.
Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.