Converting Duplex Into 2 Separate Ownerships
I am interested in purchasing a property that is currently a duplex. It has 2 separate legal addresses with only 1 pin. How can I legally separate the duplex into townhomes and obtain 2 separate pins and legal descriptions for each? Does this process need to be approved by the City where the property is located? Or do I have to contact the County Dept? Do I need to get a surveyor and attorney? Any advise will be appreciated.
every city have a slightly different process.
Call or visit the planning dept.
A thing they do in SF is create a TIC, w/ separate financing on ea. unit. There were several local banks making this type of loan.
You might check if some bank in your area does.
Much easier and less regulated if you can get the financing.
First check with the Building department of where you are to see if the zoning allows that. If the zoning allows it then you would go to the property appraiser and have the property split into 2 properties with 2 ids.
If the zoning does not allow it then it gets complicated as you will then need a lot of special permissions - probably the condo option or you could try to get the zoning change to allow it.