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Updated about 9 years ago on . Most recent reply

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6
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0
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Adolf A.
  • Union, KY
0
Votes |
6
Posts

How can I legally abandon my vacant lot?

Adolf A.
  • Union, KY
Posted

I have a empty residential lot in a good neighborhood that I bought for cash, thinking to build a spec house on it.  The reality is the lot is too steep (needs grading, piers, sewage pumps, ect.) to build cost effectively.  It's buildable, but doubt I could make any $.

So, its been for sale for 3 years and no takers.  So it's sitting there and I do nothing but pay property taxes on it. 

How can I legally abandon it? It is owned by my LLC

Any  ideas?

THX

Most Popular Reply

User Stats

376
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211
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Mark Elliott
  • Investor
  • west seneca, NY
211
Votes |
376
Posts
Mark Elliott
  • Investor
  • west seneca, NY
Replied

give it to a charity like habitat for humanity. they will build a house on it for the needy people, and you can write off the entire market value from your taxes

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