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Updated over 12 years ago on . Most recent reply
Need advice on contract for deed situation
I bought 160 acres on a contract for deed 3 years ago at a very reasonable price,[b] but with a change in circumstances, I'm struggling to make the biannual payments.
The value of land has nearly doubled since then. If I could sell 80 acres of it, I could pay off the contract but of course the seller has the deed, not me. It wouldn't make sense for him to permit me to sell it when he could let me default and sell the whole thing for a huge profit.
Can anyone suggest a way I could pull this off and still keep half the land?
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You do not need to subdivide 40 acres or 10 acres off a larger parcel that leaves you with more than the minimum required for a legal plat or lot, not in Kansas. The tax assessor number has nothing to do with the lot size or subdividing, they will assign anouther tax ID number for a legal sized lot. If you have to cut it up into many smaller lots below the minimum you'll need a subdivision hearing and approval.