Landlocked in Tennessee

[Debra]

Hello,

I'm trying to remember what I need to do this specific appraisal report. The house is on property which appears to be landlocked and it's on 5.6 acres. The owners also own a tract next door which also appears to be landlocked and it's 3.5 acres. Anyway, as far as I know, I am just doing the 5.6 acres with the house. All that as far as land access is that I see something on a deed that has an easement to the property-correct?

 

[The Warrior Monk]

In assignments like this, I would need to know the following information:

• If the two parcels are single and separate; and
• I would want to see the documentation concerning the access.

 

[Stone]

I would stop calling properties with deeded easement access "landlocked". That is a specific term and it doesn't fit what you describe.

 

[Debra]

You are correct.

I called the Registar's office and she said that there is no easement that she saw although there is just the 5.6 acres on the deed. Before I do an appraisal on this property-I need a deed that has an easement in it - correct?

 

[Michigan CG]

No, you don't need a deed that shows an easement, you can use the Hypothetical Condition that there is an easement. Talk to your client on how to proceed.

 

[The Warrior Monk]

If anything, an extraordinary assumption would be used. It is reasonable to assume that given one parcel is improved, the property owner has some type of legal access, recorded or otherwise.

 

[Walter Kirk]

If the subject property is truly landlocked the access easement (if any) would be listed on the title of the property over which the easement passes. It may appear on the title to the subject but not necesarilly. The first thing that you must do is determine how the property is accessed, whether through a legal process or informally.

 

[Stone]

If the subject property is truly landlocked the access easement (if any) would be listed on the title of the property over which the easement passes. It may appear on the title to the subject but not necesarilly. The first thing that you must do is determine how the property is accessed, whether through a legal process or informally.

If it is truly landlocked, there isn't an access easement.

 

[AJL118]

Have all of the resident AP "advisors" forgotten that there is a title insurance company involved in the transaction? What's with this penchant to practice lawyering, title work, surveying in order to do an appraisal? And that on top of the b**ching about fee. Put the onus on title matters on where it should lie - the title company that gets paid an exhorbitant fee for sitting in its assets and doing virtually nothing except hitting the PRINT key in its software.

 

[PropertyEconomics]

Have all of the resident AP "advisors" forgotten that there is a title insurance company involved in the transaction? What's with this penchant to practice lawyering, title work, surveying in order to do an appraisal? And that on top of the b**ching about fee. Put the onus on title matters on where it should lie - the title company that gets paid an exhorbitant fee for sitting in its assets and doing virtually nothing except hitting the PRINT key in its software.

Apparently you have no idea what a title company really does or the number of hours and years it takes to create a title plant. Enough said about that.
Title companies dont insure access, unless specifically asked to do so. A search would be required on the ADJOINING property not on the subject woudl be my guess as the subject is not affected by any easement, if one in fact does exist.

I also agree with David .. I think an extraordinary assumption would be the means of appraising this property. Should it be found no such easement exists, then the hypothetical valuation would be grossly in error.