Legal Question in Real Estate Law in Virginia

Re: corporate land subdivision

Is that land in California? If so, the process will depend on the zoning governing the property. You may be able to accomplish the "subdivide" simply with deeds, or you have to comply with the Subdivision Map Act and other laws. Where is the land? Do you know the zoning? Let me know via email.

Re: corporate land subdivision

In order to divide the parcel one must look to the zoning, etc in the particular County or Municipality that the property lies in. You don't say where the land is, in VA or CA, but in CA you have to comply with the Subdivision Map Act. To dissolve the corporation and distribute the land in kind is a another issue that requires paperwork and valuations, etc.

You should have an attorney do these things.

Re: corporate land subdivision

Obviously, you need a response from a Virginia lawyer, but if you don't get one, let me tell you what the California law would be; Virginia law is likelt to be a little different at least on the fine points:

First, subdividing land into smaller parcels, irrespective of whether it is owned by an individual, a partnership, a corporation, etc. is going to be subject to laws regulating subdivision and zoning, and probably requires an application-and-approval process, creation of surveys and maps, title reports, etc.

Next, dissolving a corporation carries with it some responsibilities, chiefly that all of its debts and obligations must be paid or "provided for" before the insiders can take any corporate money or property from the liquidation.

I would recommend making sure that all corporate formalities are up to snuff before beginning the process, e.g., annual meetings have been held, directors duly elected, minutes written up, etc.

Requirements of the state's Secretary of State with regard to dissolution formalities should be determined in advance as well. In California, dissolving a corporation is pretty simple if its taxes are paid up, its books in order so final taxes can be reckoned and paid, and someone will attest to the payment of all creditors.

The corporation's board should vote on the entire package, including details such as where the parcel boundaries will be, and who gets what parcel. The results of the vote, i.e. the formal resolution, should be attested to by the secretary.

I think you should obtain step-by-step guidance from a Virginia attorney meeting the following criteria: (1) some experience in real estate law; (2) some experience in corporations law; and (3) practicing in the same county, or at least near, the county in which the land is situated.

Re: corporate land subdivision

I would concur in the excellent advice provided by Mr. Whipple on this particular Virginia matter, apparently involving issues of incorporated land subject to a proposed dissolution of the corporation and followed by possible subdivsion of the former corporately-held acreage among former shareholders of the corporation.