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...are there any special rules and regulations pertaining to selling land in MA? My father has a parcel, that I would like to purchase. Neither of us have ever bought/sold land outright... so we are both scratching our heads. I am sure we can ask a professional about it, but I thought I would see if anyone here had any information. Could it really be as simple as a bill of sale? I highly doubt it in Taxachusetts.
Any info would be GREATLY appreciated.
__________________ Rich FTE Guidelines
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Rich...I imagine the number of hoops you have to jump through would depend on whether there is a mortgage...are you subdividing a parcel...does your dad have a clear title...etc. I would think that if there isn't a mortgage...and there are no chenges to the current title other than the name change...it shouldn't be too difficult. However...I personally would still contact a real estate attorney...if for nothing else than to provide peace of mind.
On another note...I read about your current difficulties in the other thread. I hope things work out for you...and for the family business!!!
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I'm assuming you are talking about a piece of land that already exists as it's own parcel and you aren't subdividing it.
Transferring land, even in the People's Republic of Massachusetts is pretty simple. A quitclaim deed transferring it from him to you should get it done. The transaction doesn't even have to be recorded in the registry of deeds but it should be in case someone else ever tries to lay claim to it.
Since the transaction would be between family members, it could be done for nominal fee and no tax stamps would be due when you record it.
It may be slightly different if the land is Registered (i.e. Land Court).
Take a look at Chapter 183 of the Massachusetts General Laws.
Assuming there are no encumbrances (mortgages, tax liens, etc) and also assuming the land isn't registered land, your father could sign a quitclaim deed over to you and the land is yours. Record it at the registry and it becomes legally documented.
A lawyer should be able to write a deed up for a couple hundred bucks.
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