Inherited Land, but Not Sure What to Do With It?

Whether it's a family farm, a rural retreat, or a parcel of undeveloped land, there are several options to consider for making the most of your inheritance. Here are some pathways you might explore:



Options for Inherited Land

1. Develop the Land

Developing the land can be a rewarding option if you're looking to maximize its potential. Depending on the location and zoning regulations, you might consider residential, commercial, or agricultural development. Consulting with a development expert can help you determine the best use for your land and the potential return on investment.

2. Lease the Land

Leasing the land can provide a steady income stream without the responsibilities of full ownership. You can lease it to farmers, ranchers, or for recreational purposes like hunting. This option allows you to maintain ownership while generating passive income.

3. Keep the Land as an Investment

Holding onto the land can be a strategic decision if you anticipate appreciation in value. Land can be a long-term investment that may increase in worth over time, especially if the surrounding area is undergoing development or if there are changes in zoning laws.

4. Partner with a Conservation Organization

If preserving the natural state of the land is important to you, partnering with a conservation organization can be a rewarding option. These organizations can help manage the land for conservation purposes, ensuring its protection and potentially providing tax benefits.

5. Sell the Land

If none of the above options appeal to you, selling the land might be the best choice. This option provides immediate financial gain and eliminates the responsibilities of land ownership. 

If you are thinking of selling, you may want to consider The IPX 1031 Exchange where you can roll your equity into another piece of property, thereby eliminating tax liability on the sale of your land. There’s also the Delaware Statutory Trust (DST), created by liquefying  your land asset and placing the proceeds from the sale into a Real Estate Investment trust, where you get a return on your investment without management hassles. This can be done with any investment property you own. 

To explore the selling process, or to find an exchange, contact David Bryant, a Land Broker specializing in Land Sales, CRE Advisory, 1031 Exchanges/DSTs and Development in Central Florida. With one of the largest databases in Central Florida of local, national, and international buyers, investors, and corporations around the globe, he can help you navigate the selling or leasing process. For a confidential valuation, visit www.Landman.co.

By considering these options, you can make an informed decision that aligns with your goals and circumstances. Whether you choose to develop, lease, hold, conserve, or sell, understanding your options is the first step in making the most of your inherited land.