Legal Question in Real Estate Law in Indiana
My dad and his brother have a 300 acre farming partnership. We would like to split some of the land up so their kids could build a house on some of the land. We have a 16 1/2 acre parcel of ground that we would like to split. It contains 5 acres of a field and 11 1/2 acres of woods. We want to split the woods in half so each partner gets their own 5 3/4 parcel of woods. The field would stay with the farming partnership. Is this possible? if not what are our options?
1 Answer from Attorneys
Yes, you can accomplish what you want and there are different methods and ownership rights that can get you there. To be done correctly, the division of property and ownership rights, especially as to the woods and fields, should be drafted by an attorney who is versed in real estate law.
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