Legal Question in Real Estate Law in Iowa

Building on Deeded Property

We rent a farmhouse from our parents and it is falling apart and they refuse to put any money in to it, but said we could build a new house at the same location. They will not parcel the land, but will deed the property to us. What kind of protection is that for us and how could I be certain that our new house could never be taken away.


Asked on 10/27/08, 1:18 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Building on Deeded Property

If they convey the entire property to you, it is yours. If you, or your parents have a mortgage on the property and the payments are not made, the lender will foreclose and take the property. Likewise, if the taxes are not paid, you will lose the property. You need to consult with a real estate attorney to make sure there are no title problems, the transaction is structured properly, and the documents are prepared correctly.

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Answered on 10/27/08, 1:24 pm


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