- This topic has 6 replies, 5 voices, and was last updated 17 years, 5 months ago by El Jefe.
-
AuthorPosts
-
April 24, 2007 at 11:52 AM #8916April 24, 2007 at 12:17 PM #50995PerryChaseParticipant
with address you can get name of owner.
April 24, 2007 at 2:07 PM #51017gnParticipantI used the above link to look up a property for sale. It shows 4 parcels & the owner’s name is a trust.
– Why 4 parcels for one property ? (The lot size is about ~10k sq ft)
– What are the advantages of putting a house into a trust ?April 24, 2007 at 3:32 PM #51026El JefeParticipantWhen the land was originally mapped, the parcel sizes were often chosen arbitrarily to meet certain long term city planning density projections. In many areas this does not equate to lot sizes for the houses, which many times have lots that are sitting on several legal parcels. There are blocks here in Point Loma where each 5000 sq/ft lot is actually 2 parcels 25×100. There are pockets in cardiff, leucadia, carlsbad and escondido that I know about, that are similar. Those are the golden properties if you are looking to build, as you can easily divide the lot along the parcel boundaries without having to subdivide, and have 4 houses where one used to stand, all without condoizing anything.
As far as the trust goes, there are several benefits when you are estate planning vs a std will. A trust will avoid probate costs and need of a court appointed conservator to transfer the property, is recognized across state boundaries which gets you out of multi state probate if you own RE in more than 1 state, and a trust is an entity and therefor maintains privacy of its assets. There is a lot more but those are the big ones.
April 24, 2007 at 3:35 PM #51027TemekuTParticipantGN, if it is a townhouse there can be different lots (i.e., parcel numbers) for the common areas vs. the actual townhouse.
Generally, the reason for putting the property in a trust is for estate planning and taxation purposes for someone with ample assets.
April 24, 2007 at 4:02 PM #51033gnParticipantEl Jefe & TemekuT,
Thanks so much for the explanation.
April 24, 2007 at 4:46 PM #51042El JefeParticipantOooops… I completely missed the townhouse part. TemekuT is correct. Townhouses aretypically built just like condos. The builder may take 3 or 4 parcels, create one large lot, and then build 8-10 townhouses. Townhouses done like this are considered condominiums legally, with a couple of exceptions for 0 lot line stuff like what they have done in Little Italy with the “row homes”.
-
AuthorPosts
- You must be logged in to reply to this topic.