Hello, (I was not sure under which discussion group to post this question...)
A client wants to buy a piece of land next to them. The person living there wants to sell the land, but keep the house and a small piece of land out for himself.
Subdivision is not an option so we are looking for a way around it. He wants to live there the rest of his life (over 65) and “his piece” must then only be sold (and I guess the money must go to his heirs). The client wants to buy the rest in the meantime and farm it
Is it possible to describe such an arrangement in a company or a trust? What would be the pro’s and con’s? Costs now and running?
If someone can please give some direction here... thanks!