{"id":51042,"date":"2023-01-08T15:45:36","date_gmt":"2023-01-08T15:45:36","guid":{"rendered":"https:\/\/businessyield.com\/?p=51042"},"modified":"2023-05-07T22:03:19","modified_gmt":"2023-05-07T22:03:19","slug":"landlocked-property-buying-landlocked-property","status":"publish","type":"post","link":"https:\/\/businessyield.com\/real-estate\/landlocked-property-buying-landlocked-property\/","title":{"rendered":"LANDLOCKED PROPERTY: Buying Landlocked Property","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
You discovered a vacant plot of land next to a remote lake, the ideal location for your upcoming weekend getaway. Or perhaps you’ve discovered a plot of undeveloped land behind an existing mall that would be ideal for the restaurant you’ve always wanted to launch. Looking to secure it or getting an easement is one thing, and when there isn’t a road that leads to the land is another issue. If the property can only be accessed by crossing a neighbor’s lot. At this point, you’ll have a slew of questions and ideas will be running through your head, such as, “Should I just build and not worry about the landlocked property, or should I just sell it off on legal ground?” Alternatively, you might also think that obtaining access to the driveway will do the trick.<\/p>\n\n\n\n
Landlocked property is the term for the land you desire to purchase. If you decide to buy it, you may need to use legal means to construct the access road. You’d need to get to it or engage in negotiations with your neighbors to secure the right to traverse their property to get to your land. Let’s delve in.<\/p>\n\n\n\n
When referring to a piece of real estate that can only be reached through an adjacent lot rather than a public thoroughfare, the term “landlocked” is used. This kind of vacant lot might be behind a strip mall and is only accessible by passing through the mall. A landlocked property is encircled by other properties.<\/p>\n\n\n\n
Typically, landlocked properties are the result of a previous owner subdividing a large plot of land into several smaller plots and selling each one separately. A parcel can become landlocked if the subdivisions are developed without proper planning.<\/p>\n\n\n\n
A landlocked property is surrounded by other people’s lots, as the name implies. The property is landlocked as a result, and there is no authorized road leading to it. The only access to the land requires passing via a neighbor’s farm.<\/p>\n\n\n\n
An illustration could be a deserted area behind a mall. The area behind this lot is landlocked if the only access point is through the mall’s grounds. Another illustration could be land that is mostly underdeveloped and covered in trees. There could be other people’s lots all around the land. The land allotment is also landlocked if there is no road leading to it.<\/p>\n\n\n\n
Land parcels don’t have to be inaccessible from the sea. To create an access road to the land they wish to purchase or to pass across to get to their property, buyers of landlocked parcels may bargain with the owners of surrounding land or properties for an easement or right of way, a strip of ground.<\/p>\n\n\n\n
More so, depending on the owners of the adjacent land, this process can be simple or necessitate a drawn-out and expensive legal battle. If you don’t have access to a landlocked property, you can’t build on it.<\/p>\n\n\n\n
A person can choose to invest in a landlocked property for a variety of reasons. Since landlocked houses are less expensive, they might serve as a budget-friendly entry point into an otherwise pricey community.<\/p>\n\n\n\n
Another reason to buy a landlocked property is if it is close to a future-expanding business or commercial area. In this case, holding onto the landlocked property and later reselling it for a profit when the business area grows.<\/p>\n\n\n\n
No, you are unable to restrict access to the landlocked property. Even when there is no direct access, there are federal and state rules that permit access to the landlocked property. An easement or an easement by necessity is one of the greatest ways to provide access to a property that is landlocked.<\/p>\n\n\n\n
You’ll probably need to obtain an easement from your adjoining property owner if you buy a landlocked property.<\/p>\n\n\n\n
You have access to your landlocked property through an easement. It could be as easy as your neighbors permitting you to use their driveway as a shortcut to your property. Alternatively, your neighbors might permit you to construct a driveway or access road that crosses their land and leads to yours.<\/p>\n\n\n\n