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Well, I understand it because it is hard to find totally perfect real estate situations in rural areas of this state.
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Campfire Ranger
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OP
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Exactly. We're talking a 10 acre parcel with the house, and almost 90 acres on the second piece 1.5 miles from town. Almost impossible to find in this area.
MAGA
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Dupe. The Fire is running quirky.
Last edited by Cheyenne; 10/23/15.
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Campfire Outfitter
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Then I would negotiate for the best type of contractual easement under Montana law. If your friend needs to give a mortgage on the place, sometimes the bank or title company will be an ally by requiring the best type of easement as a condition to the loan. The type of easement may impact LTV ratio, and there also may be loan underwriting criteria that impact the type of easement that can be placed on the house parcel.
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Campfire Outfitter
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Campfire Outfitter
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Can you insure against access disputes later?
When I was remortgaging my property a couple of years back, the mortgage company balked because stricktly speaking, there was no legal right of access over the last 150 yards of lane leading to the properties.
Nobody knows who owns this section of the lane and its not public road..
I had two options, either enter into a expensive and lengthy legal action or simply pay $100 for an insurance policy should the right of access ever be challenged..That policy stays with the house should it be sold..
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Campfire Tracker
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Campfire Tracker
Joined: Feb 2009
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Consult an attorney. Don't trust future relationships or generations.
YMMV This, and preferably one with actual real estate experience.
“Some ideas are so stupid that only intellectuals believe them.”
― G. Orwell
"Why can't men kill big game with the same cartridges women and kids use?"
_Eileen Clarke
"Unjust authority confers no obligation of obedience."
- Alexander Hamilton
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Joined: Aug 2004
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Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
Posts: 69,628 |
Can you insure against access disputes later?
When I was remortgaging my property a couple of years back, the mortgage company balked because stricktly speaking, there was no legal right of access over the last 150 yards of lane leading to the properties.
Nobody knows who owns this section of the lane and its not public road..
I had two options, either enter into a expensive and lengthy legal action or simply pay $100 for an insurance policy should the right of access ever be challenged..That policy stays with the house should it be sold.. Most title policies will list all easements, or lack thereof in the Schedule B part of the title commitment. Then in the exceptions, they pick and choose what they insure, and what they don't. Usually all conflicts, or areas of no access, as well as encroachments, excroachments and like items are excluded from the policy coverage.
Molɔ̀ːn Labé Skýla!
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Campfire Member
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This is the exact reason when doing a subdivision we require all platted lots to have right of way adjacent to the lot to provide legal and physical access. I hate seeing landlocked parcels because they are always a headache.
Last edited by RatFink; 10/23/15.
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Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
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This is the exact reason when doing a subdivision we require all platted lots to have right of way adjacent to the lot to provide legal and physical access. I hate seeing landlocked parcels because they are always a headache, Most, if not all states require ironclad access now.
Molɔ̀ːn Labé Skýla!
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Campfire Regular
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I would skip the hassle and uncertainty and look elsewhere. I have a friend whose family owns acreage and a house in the mountains. A neighbor just bought a 150 acre adjoining property for dirt cheap due to poor access. Now he wants an easement straight through their land so he can live there year round. I told them to figure out the increase in value to his property with the new access, and charge him at least the difference. In most states now, it's illegal to sell lank locked parcels. For the existing parcels that are landlocked, most states also have a legal remedy consisting of the most reasonable route to access the property being assigned as a permanent ingress/egress easement, and the owners of the surrounding property the easement crosses have no recourse but to allow the access. It's not landlocked, it just does not have the access the new owner wants, and it wasn't subdivided off of my friend's property, so if it were landlocked, that would be an issue for the original parcel to resolved. Otherwise unscrupolous owners get better access by subdividing landlocked parcels....to be resolved by third party properties.
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