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Severing a Side-by-Side Duplex into 2 Properties
I have an opportunity to purchase a side-by-side duplex (both units are mirror images of each other). Each unit has its own separate driveway, separate utilities, 2 separate street numbers (one deed for the property) and the lot is oversized so there is ample space for each unit. It just shares a party wall. Currently the property is owned by one person who rents both units out. These units, when renovated, would be worth good money if sold as individual homes - Big demand for these types of properties in my area. My question is, what is the likelihood I would be able to "sever" this property and be left with 2 homes so I can sell them off individually? I know municipal laws vary from place to place, but I am curious to hear what some people's experiences are with something similar.