Thread: A bit of a dispute...

(a long rant)

This whole deal hasn't reached the state of lawyers yet but it could.

So here we go.

I bought a piece of land on a lake. On part of that land there are tenants in a moveable structure (you like how I phrased that? ha).

The tenants own a moveable structure on the land, and within the lease agreement they also own the pier / boathouse (basically for liability reasons).

So they wanted out of lease early. Good fine. They moved the movable structure and want pro-rate on the pre-paid rent. Good fine.

Now they would like me to buy the pier / boathouse. Within the lease agreement it says the pier / boathouse could not be over a maximum value of 30k. It also says these 3 things about buying it:

1. We agree on price (yah right)
2. They sell to someone else (with my approval - this most likely won't happen)
3. Get appraisal

So I opted to get appraisal (which happens today) and the guy laughed and said who in their right mind would buy a pier on land they don't own. I said well they did now what is the damn thing worth? He asked how old is it, I said 30 years. Then he said it's worth 0.

So I laugh a bit. But really the situation isn't funny. These people bought a 30 year old pier for 30k. I mean who does that? And want me to buy it at 30k. Get real.

I would probably settle around $5k but that is when the shit will hit the fan. Ugh.

Tell them to take their _____ (fill in the blank) dock off your property and keep it...

Have some one "accidentally" burn it or crash into the dock.

Maybe it's just me but how does a renter own anything on a rental property? I'd laugh at my tenants if they ever said I to what is mine.

Originally Posted by Rex

These people bought a 30 year old pier for 30k. I mean who does that?

Who buys a piece of land on the lake with a boathouse and dock owned by the tenant?

Mo money mo problems.

Originally Posted by ItODDospeed

Tell them to take their _____ (fill in the blank) dock off your property and keep it...

I agree with you here. But who owns the water and how far. Do I just own the right to use (water) etc. I'm just trying to play devils advocate.

Originally Posted by BullsFTW

Who buys a piece of land on the lake with a boathouse and dock owned by the tenant?

Mo money mo problems.

I'm pretty sure I'm at the advantage here. Plus it's on the edge of property. It can sit there for all I care.

Don't buy it...just put a fence around your yard and say they are not permitted to walk on your land. I'm sure eventually they will take whatever you give them.

Originally Posted by saintv90

Don't buy it...just put a fence around your yard and say they are not permitted to walk on your land. I'm sure eventually they will take whatever you give them.

Depending on how long they've been there they could win a judgment to have an easement to access their pier.

Time to invet in a real estate attorney in your state.

problems, but $30K for an old dock that was appraised for $0, if you did go to court i dont think those people have a chance of getting a dime off you

depending on your state laws they might get that easement, which would totally suck

thats why i invest in simple land title properties

Originally Posted by ChumpChange

Depending on how long they've been there they could win a judgment to have an easement to access their pier.

Time to invet in a real estate attorney in your state.

Under 3 years.

zero chance of them winning an easement. that only happens if the parties reasonably did not know who owned what for typically a very extended period of time. In my area, incorrect property lines (lets say by a fence being off a few feet) become the new property line after 10 years if the issue is never brought up. If the issue is brought up (ie, tell the neighboor, hey your fence is 2 feet in my yard) then you have 30 YEARS to correct it before ownership can be contested.

anyway, you mileage may vary. this is not legal advice, BUT....i think you need to have an attorney draft a quick letter giving them 30 days to clear their *sh*t off your property or you will demo it (definitely do not leave it up no matter what, that leaves something to be contested later).