Robert the wife did have an interest in the hubby/girl friend tract for a short time after the hubby died but remember the hubby, wife and girl friend are all deceased. I am now finding out federal funds are involved and that is the reason for the requirement of combining two lots into one.
Brian:
"this can't happen unless a plat is done combining both lots."
Are you saying that two independent property owners could not sell their individual lots to a single buyer without combining the properties??? I'm missing something here.
I think you missed "the buyer’s bank is insistent on combining both lots into one." The requirement from this bank is the loan will not be approved until the two lots are combined into one.
The requirement to combine does not make sense, and you have not quoted any law or ordinance requiring it. It's just somebody's idea at the bank?
Suppose the situation was having two houses across/down the street from each other instead of side-by-side. What would they require then and what would the solution be? That should also apply here.
If the problem is uncertain ownership among the various kids, there should be some combination of deed language whereby separate deeds convey their actual or potential interests.
Any merger should occur after it is under one ownership, if that is required or even advisable (reasons were given why it might not be).
Couldn't all nine heirs just quit claim their interests in both lots?
> The requirement to combine does not make sense, and you have not quoted any law or ordinance requiring it. It's just somebody's idea at the bank?
>
Yes, it is probably Bank rules that are forcing this. It kinda does make sense if you are the one loaning the money. There are (I assume) two lots, one vacant and one with the house on it. The buyers are wanting 1 loan to cover the purchase of both lots. The lot with the house is worth a considerable amount more than the vacant lot. The mortgage holder wants both lots tied together in one description in the deed of trust, thereby tying the values together. Otherwise there would probably have to be two separate loans. I had to combine two properties into one description when I purchased my house and farm property for this same reason. Here, luckily there were no local zoning/BS issues to deal with, I just wrote the description, gave it to the title company and everything went real smooth (small towns are nice!!)
In most jurisdictions all 9 would have to sign off on the face of the survey, plat, whatever you call it.
I'm guessing the second lot is vacant? This would serve to protect the bank with the house was enlarged, sending it over the lot line, for those areas who had no rules about building over existing lot lines if you own both. I'm dealing with the same situation. Husband and wife buy 2 lots build a home over the line. Then ten years later by a 30 foot sliver next to them. 15 years later they add on to their home with no financing involved. They get divorced a few years later, he get the house she gets the 30 foot sliver. Only problem is they put the addition onto the 30 foot sliver. He looses the house, bank forecloses and sells it. Sale will not go through because 10 foot of the addition is on her property and she will not sell. She had not skin in his mortgage so they can't for her to do squat. Buyer won't by with ten foot missing from the home. Big mess.
