Lot Divisions

We have nearly 5 acres and are putting 9 houses plus a guard house on the property. Yes, it is going to be a walled off gated community. Well the laws here for an agricultural subdivision only allow 3 lots so supposedly we have to either do an urbanization or a condominium project. Each of those types of developments takes between 12 and 24 months and upwards of $24K to get all of the approvals.

So I thought of another way. A “Mother” corporation that owns all of the community property and “children corporations” that only own the building pads and a little extra land around them. After all, our goal is to maintain the rural nature and natural privacy. If we sold full sized lots, we could not prevent someone from clear-cutting it.

Two attorneys said it would never fly then we talked to one who specializes in agricultural real estate law. She thought about my idea for a day and came back all smiles with examples of how it has been done before.  So we are off and running!