Partial Release Appraisal

[Dublin ohio]

Depends on your state laws

do property owners in North Carolina own the right of way through their property?


No, property owners in North Carolina do not own the right of way through their property:

• Easements: Easements are legally binding agreements or court orders that grant specific rights to others, such as the right to use another person's land for a specific purpose. Easements can involve a broader range of activities than a right of way, including parking, access, or even the installation and maintenance of utilities. Once an easement is legally established, it is generally not an option for a property owner to block it.

Thanks, I suspected that would be the situation. Different in Ohio

 

[Dublin ohio]

Depends on your state laws

do property owners in North Carolina own the right of way through their property?


No, property owners in North Carolina do not own the right of way through their property:

• Easements: Easements are legally binding agreements or court orders that grant specific rights to others, such as the right to use another person's land for a specific purpose. Easements can involve a broader range of activities than a right of way, including parking, access, or even the installation and maintenance of utilities. Once an easement is legally established, it is generally not an option for a property owner to block it.

That seems to be counter to what the OP says in the original post

The GIS shows 7.49 acres (the gross) owned by the borrower.

So my question for the OP is what does the actual legal description say

 

[Carnivore]

We really don't have enough information. He is in NC so I might be able to look up the property. Problem is NC has 100 counties. Not all but some have very detailed gis and easily accessible Deed Rooms on line.

Oh well he will figure it out. The Deeds should show a r/w. Sometimes they don't because often if you look at past ownership you will see where they have divided the land up and may not have included or updated the r/w.

I don't know where he is located but I re-read his post and it seems like he is in a high value area. just don't know.

 

[BRCJR]

We really don't have enough information. He is in NC so I might be able to look up the property. Problem is NC has 100 counties. Not all but some have very detailed gis and easily accessible Deed Rooms on line.

Oh well he will figure it out. The Deeds should show a r/w. Sometimes they don't because often if you look at past ownership you will see where they have divided the land up and may not have included or updated the r/w.

No legal deeded ROW spells trouble when trying to borrower money from a well-informed lender.

 

[Mark K]

Ok I guess I am going to have to play stupid on my understanding of an ROW. I was always under the impression that a ROW is not a form of ownership but more similar to an easement. You still "own" the land.

A R/W is just that. A right for others to use your property, similar to an easement. But, the county/city/etc. can have a R/W either by deed, easement, highway grant, or other means.

My 5 ac. lot extends to the center of the road but the deed specifies that the county has a 1 rod R/W (16.5') from the center of the road. I own to the center of the road but I have no rights beyond that of anybody else driving down the street. If the county wants to widen the road, they have to buy the existing R/W (usually for $1) and then pay fee value for any area beyond that.

The assessor shows my lot as 4.85 acre that I pay taxes on and 0.15 ac. R/W that is assessed at $0.

 

[OSU Beavers]

Only trust the before and after sizes that a surveyor puts down in writing, not the GIS.

 

[Dublin ohio]

A R/W is just that. A right for others to use your property, similar to an easement. But, the county/city/etc. can have a R/W either by deed, easement, highway grant, or other means.

My 5 ac. lot extends to the center of the road but the deed specifies that the county has a 1 rod R/W (16.5') from the center of the road. I own to the center of the road but I have no rights beyond that of anybody else driving down the street. If the county wants to widen the road, they have to buy the existing R/W (usually for $1) and then pay fee value for any area beyond that.

The assessor shows my lot as 4.85 acre that I pay taxes on and 0.15 ac. R/W that is assessed at $0.

My lot has a similar situation and it includes the drainage ditch. They will maintain the actual ditch. But I am still responsible for maintenance of the small amount of adjacent land on either side that is not actually the ditch. So that is why I asked.

 

[sputnam]

You are overthinking the problem. All the Lender needs is the value of the property that will not be released. As for the R/W isssue, you state both the gross and net areas. The areas within the R/W probably has no market value since it can't be used by the property owner in any meaningful way.

 

[JTip]

You either own in fee simple or you don't.

A loss of one stick in the bundle means fee simple is gone and you lose full ownership = easement.

Public roads, traditionally, are owned in fee simple, and not reflected on the deed, but simply a recorded addendum, where title search discovers the exemption. There is 'highway easement', an easement over your property for pubic road use and you retain underlying ownership, be it 5%-10%, whatever, a minor ownership in the end. You get to pay the taxes whilst people drive on your land. An archaic form of easement that is not used anymore, now it is just purchased in fee simple.

Getting access to your property through another property is simply an easement. A 15' recorded permission in perpetuity is an easement.

7.49 acres but a net of 7.11 acres

A survey measures the land based on the deed, site inspection and title search. 7.49a is the land but the net of 7.11a shows 'exceptions' or prior purchases, be it fee simple right of way for a public road or an exception sold to a neighbor 30 years ago. Easement do not factor into net, but should be identified (utility easement, driveway easements, highway easements, etc).

Net is what is owned in fee simple with easements.

 

[Mark K]

FWIW, about 15 yrs. ago I was appraising a supposed 0.8 acre lot with SFR on a busy highway, high intensity commercial all around, Costco, McD's, etc. . Land was selling for about $500K/acre at the time, nowdays, $1M/acre.

Owner was not happy when I told him that he only had approx. 0.4 acre useable. My research showed that the other 0.4 acre was under the r/w of the six-lane highway. The state widened the road approx. 30 yrs. ago from two lanes to six lanes but they only bought an easement so his deed still showed that he owned the land under 4 of the lanes of traffic. He was not happy.

The site went from .8 acre of very desirable land to a site too small to develop. The old house is still there, residential rental, with strip mall on one side and used car lot on the other side.