Division of Parents property

[Richard Stephens]

Hi BP Community,my dad with his own 2 hands has built a house on 1 acre of land that he lives in. But he has done a reverse mortgage loan, and since he  built the house he would like me his only son to purchase it. I would like to purchase it and  put a fence for privacy and put a duplex on it for a rental. The part of the land that I want to separate has its own septic can I do this, their are no restrictions that I’m aware of and not sure since it will be bank fiananced if I could do this. Thanks for anyone’s input.