J
Jonathan Simons
New Member
Hi All
A dev has approached regards to my house and land.
Been talking and i mentioned about wanting to leave something to kids and not worrying about inheritance tax if i should pass etc.
the title of everything is in my name, and dev suggested I split the land up so I hold one and they have another title.
The dev suggested 1.3 acres with my house remain in my name and 0.05-0.2 acre be in kids name and what he offered is split down the middle.
so house with 1.3 acres gets same amount as rectangle piece of my land with no access.
im getting the feeling he wants to do this to give me a fair price compared to others, but as to also devalue the area, as it would be then known the last house in the area would have sold for X, and he would use this to leverage his prices to others in area, where he can say "I paid so so X amount"
Is this normal? is there a terminology for this.
Or is it a big no no, as to me it looks really odd, esp if someone saw on land registry that my house and land got X yet a tiny parcel of land with no access got the exact same.
A dev has approached regards to my house and land.
Been talking and i mentioned about wanting to leave something to kids and not worrying about inheritance tax if i should pass etc.
the title of everything is in my name, and dev suggested I split the land up so I hold one and they have another title.
The dev suggested 1.3 acres with my house remain in my name and 0.05-0.2 acre be in kids name and what he offered is split down the middle.
so house with 1.3 acres gets same amount as rectangle piece of my land with no access.
im getting the feeling he wants to do this to give me a fair price compared to others, but as to also devalue the area, as it would be then known the last house in the area would have sold for X, and he would use this to leverage his prices to others in area, where he can say "I paid so so X amount"
Is this normal? is there a terminology for this.
Or is it a big no no, as to me it looks really odd, esp if someone saw on land registry that my house and land got X yet a tiny parcel of land with no access got the exact same.
