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Selected Qualifying Criteria for a Lot-Split The parcel must be within a single-family residential zone. The parcel must be located within a city or unincorporated area that contains an urbanized area or urban cluster. The parcel must not be located within a historic district or be a historic property.
Senate Bill 9 gives property owners the right to split their single-family lots into two lots, or add a second home to the existing lot, or split the lot into two and add a duplex on each one. Thus, the last option allows four housing units on the original lot after being split in two.
A subdivision requires preparation of technical drawings, plans, and documents, which can cost hundreds to thousands of dollars. You will need to hire a surveyor and engineer to prepare the maps for the project and assist you in submitting the subdivision plans to the County.
You don't usually report payment for an easement or damages. You only reduce your cost basis in the remaining property, by the amount you received, for when the property is sold in the future. But,if you got the 1099-S, it must be reported on your tax return, but it is most likely not taxable.
What is a Pipeline Easement? Generally, an easement is a legal interest that allows someone the right to use another's property for a certain purpose. A pipeline easement specifically gives the easement holder the right to build and maintain a pipeline on a landowner's property.
An easement in gross can be sold to either an individual (personal) or to a company (commercial). For example, if your family owns land that abuts a highway and a local dairy farm wants to access that highway by cutting through your land, your family may sell a commercial easement in gross to the dairy.
Property owners cannot regrade the soil or build structures on or near a drainage easement because it could impede the free flow of water over the property. In the case of a drainage easement, the easement benefits the property owner as much as it benefits anyone else.
Local fees will cost between $500 and $1,500 to split a property into two. It will cost $2,000 to $10,000 for more than two lots. In addition, a surveyor will charge between $500 and $2000 for a mid-size property to be surveyed and platted.
There are several types of easements, including: utility easements. private easements. easements by necessity, and. prescriptive easements (acquired by someone's use of property).
An easement grants a right for the owner of one property to do something on someone else's property. There are several types of easements including the right to convey electricity, a right of way and the right to convey and drain water from one property to another.