Alternative Investments

inland

What is a landlocked country?

In the context of real estate, inland refers to a piece of property that is not accessible by public access, except through an adjacent lot. Located at the back of the mall, this type of lot can only be reached by walking through the mall. Inland property is locked, which means it is surrounded by other properties.

key takeaways

  • In the context of real estate, inland refers to a piece of property that is not accessible by public access, except through an adjacent lot.
  • Inland property is locked, which means it is surrounded by other properties.
  • Owners of inland property can obtain easements, which grant access to public roads across adjacent land.

Get to know the outback

Inland parcels are often the result of subdivision or division of larger parcels into smaller parcels, which are sold individually. Ideally, the smaller parcels could each use public rights of way, but sometimes this is not possible. For example, a seller may wish to subdivide a large square lot with a landscape feature at its center, such as a mountain that is not suitable for development. Rather than carve out a path to the mountain, it may be left inland.

Inland real estate occurs when a family’s land for many years is divided among family members. Ultimately, when properties are sold, they need to be owned individually. Access to inland properties may not be a problem when surrounding properties are owned by the same family. However, access to inland real estate can become a problem once the ownership of certain properties changes.

Criticism of inland real estate

Inland properties are often less valuable than surrounding properties due to the difficulty of access. However, that doesn’t mean outback real estate is worthless. However, as banks may not finance inland properties, it can be difficult to obtain a loan or mortgage for the property. The lack of access to the property for public services, such as medical and fire crews, could put banks and potential buyers away from dealing with the inland property.

ease

Access to inland properties or parcels can be challenging for owners. However, state and federal laws protect the right of property owners to make “productive use” of their land, which usually means access to public roads.

Easements granting the right to traverse adjacent land are used to provide such access. There are various types of easements, some easier to obtain than others. However, savvy buyers who know the rules can find good investments in inland properties.

A stress-free way to obtain an easement is through friendly negotiations with neighboring landowners. They may be tempted to make a verbal promise to allow inland owners to traverse their land, but buyers are advised to get the promise in writing. Written easements, created by a real estate attorney and registered with the local deeds office, provide security for inland property owners. Through verbal arrangements, neighbors can change their minds or sell their land to less hospitable owners. Finally, when the outback is listed for sale again, the neighbors’ words don’t mean much. A written permanent easement avoids all of these potential problems.

necessary easements

An easement may be necessary if a neighbor is unwilling to sign an amicable easement or demands unreasonable compensation. A necessary easement is a court order granting the landowner the legal right to use his property. However, the inland owner must demonstrate through deed and title searches that the inland property and the adjacent property were once owned by the same person. The court essentially ruled that when the property was subdivided, the owners neglected to provide the necessary road access.

special attention items

It is important to note that applying for an easement if necessary will incur legal fees. Plus, it could allow inland owners to appeal the ruling alongside angry neighbours. There are exceptions to necessary easements, such as land patents granted by the federal government, even dating back hundreds of years. To avoid getting involved in legal disputes over inland properties, buyers should consult with an experienced real estate lawyer.

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