Recently, I took on a case that involved transferring a six-acre parcel of vacant land to a trust after the Grantor (sometimes called the Trustmaker) had passed away in a different state. For reasons unknown, the Grantor had neglected to transfer the Nevada property to his trust during his lifetime. A court order was needed to get this accomplished in an expedited manner and to avoid a costly probate.
Aside from the legal analysis, I needed to determine the value of the vacant land. I assumed this would involve logging onto a computer, looking at the parcel maps to find similar lots for sale, comparing recent sales and coming up with a number – all from the comfort of the home office. I asked my broker if she could perform this service for me. Easy, I thought.
Three days later, I received an email detailing her work on the project. To my surprise, she had walked the entire six acres, looking for markers, fences, access points to the roadway, water, and evidence of any recent survey work done, all the while taking detailed notes. As she made her way through thick sagebrush and Russian thistle in her cowboy boots, she managed to take some great photographs to show me the ideal orientation of a future home. My clients were delighted.
I truly did not realize the time and effort that is required to determine an accurate value of a parcel of vacant land. My friend’s work was outstanding; walking the land made all the difference.
Interested in learning more? Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.
