Subdividing properties sounds too complicated at first but it is not that difficult at all. It is very easy once you have known the right guidelines on doing this particular process. Subdividing is being done by making partitions of a certain land or property and a separate legal title is produced.
There are many reasons why you would like to subdivide your property. One of this could be that your place is too big for your needs and you want to make a profit out of this. Real estate brokers would also benefit on subdividing. Here are the guidelines that you need to follow.
Contact your local planning and development office
After you have obtained the title and decided on subdividing a property, consult the zoning ordinances from the local branch. Know the rules and regulations, restrictions as well as liens against the property.
Plan on dividing the property
Decide on how you want to divide your property. You may need to contact a surveyor and an engineer to assist you with this. The surveyor will conduct the first survey as part of purchasing process and will come up with a blue line survey based on their findings, estimations and dimensions. If you had fully bought the property, a survey will just be conducted on the portion of land that you wish to subdivide. This includes how many subdivisions should be made and how utilities should run on the area.
Create a plat
After the survey and planning of how you want to subdivide your property, create a plat which shows the partition and file it in county tax office. This will also inform the tax office that the property is under development and will be changed from being taxed as acreage to individual lot evaluations.
Selling the property
Choose a marketing strategy to sell the individual lots. Once you’ve got a buyer, go to a title abstract company to process the title. Like selling a house, each subdivided properties being sold will undergo a closing process. The title abstract company that you contacted will be the one who will collect the moneyed interests, distribute the funds and file the legal documents for both parties.
For every process wherein money, contracts and legal documents are involved, it is always best to consult a lawyer. Remember that all steps should be followed and everything has been done on writing for your own security.