Best way to divide land

[hunterridgefarm]

My wife and B-I-L inherited a 180 acre tract of land, all wooded. Right now the tract is land locked with no right-of-way ( currently in court to get this, will post about it when its all over).

When we get the right-of-way the court may require a survey of the property at the same time the R-O-Way is surveyed. Either way we will need to get the land divided at some point.

There are alot of ridges, hills, valleys in this tract with alot of mature hardwoods. I thought of hiring a forester to determin the value of timber and best way to divided acording to timber and lay of the land for future homesites. We do not plan on cutting the timber but would do one of two things. Trust fund for our son or sale in the future. We could also get an aerial view or hire someone with a small plane to fly us over the land.

The land needs to be divided equally in acreage and as close as possible in timber value.

Anyone go through this before or have any thoughts on best way to do this?

Thanks

 

[MrJimi]

Go to Google Earth do a small 14 MB download and enter your address and enjoy and save your money
Jim

 

[dirtworksequip]

What are the reasons that it must be divided?

 

[Bird]

There are a lot of ways it could be divided and I guess much depends on how well the heirs get along with each other. But in my opinion, the best way is either: (1) get an agreed upon value for the entire property and one heir buy out the other's share, or (2) sell the property and split the proceeds.

 

[randy41]

sounds like bird has the right idea. physically dividing it would require appraisels and surveys which can be expensive to get.

 

[WayneB]

My wife and B-I-L inherited a 180 acre tract of land, all wooded. Right now the tract is land locked with no right-of-way ( currently in court to get this, will post about it when its all over).

Just curious about it being land locked and how you will get a right-o-way?

When we get the right-of-way the court may require a survey of the property at the same time the R-O-Way is surveyed. Either way we will need to get the land divided at some point.

Seems like you must have a way to get a right-of-way again I am curious on just how this happens in NC? Here in NH it is a bit different. Most courts will not provide easements over private property. Results is purchase of the right-of-ways.

There are alot of ridges, hills, valleys in this tract with alot of mature hardwoods. I thought of hiring a forester to determin the value of timber and best way to divided acording to timber and lay of the land for future homesites. We do not plan on cutting the timber but would do one of two things. Trust fund for our son or sale in the future. We could also get an aerial view or hire someone with a small plane to fly us over the land.

The land needs to be divided equally in acreage and as close as possible in timber value.

This might be very costly to achieve and I believe Bird has the best approach to the situation.

Might be good for one to buy out the other and retain the land without cutting off the timber.

I would suggest cutting the timber to enhance the growth, but not to pay off the cost of the land. When I did it by the time I paid the timber tax, forester, logger and haulers I didn't make any money off from the deal. I did end up with a bunch of tops all over the place. It is growing back now and doesn't look as bad, but it has been ten years.


Thanks

Wayne

 

[hunterridgefarm]

Go to Google Earth do a small 14 MB download and enter your address and enjoy and save your money
Jim

Jim,

I use the Google Earth and have a 2.5' x 4' photo of the property.
Thank for the thought!

 

[hunterridgefarm]

There are a lot of ways it could be divided and I guess much depends on how well the heirs get along with each other. But in my opinion, the best way is either: (1) get an agreed upon value for the entire property and one heir buy out the other's share, or (2) sell the property and split the proceeds.

Bird,
I agree this would be the best way, however he won't sale and will not pay us what the property is worth. And we really, at this time don't want to sale.

 

[hunterridgefarm]

What are the reasons that it must be divided?

At this time there is no reason. But we know sooner or later it will need to be divided.

We don't want our son to have to deal with this should something happen to us. We feel certain if his daughter gets the land she will want to sell it. And it will be easier to deal with in a trust for our son.

We also feel certain if we ever decide to sale he will cause problems for us at that time if it is not already divided.

The property is real close to a large state park and talkingwith some land agents I know was informed the value is of the land with the building sites is upper 6 figures.

 

[hunterridgefarm]

sounds like bird has the right idea. physically dividing it would require appraisels and surveys which can be expensive to get.

Randy,

Expensive...yes. That why I am in no hurry right now but want to get some info and ideas here and when the time comes be ready.