My neighbor owns 2 building lots (lots 6 & 7) next door to one I own (lot 8). These are heavily wooded lake properties and we both own homes elsewhere. He has a cabin on the lot next to mine (lot 7), and planned to build another on his second (lot 6) at some future date. Due to health reasons, he has decided that will never happen. He called me last week and told me the driveway that I built on my property would serve his property better than the one he has on his property, so he suggested we trade his lot 6 for my lot 8. Lot 6 is unimproved, but would have a better lake view than 8. Lot 8 has an established 350' long driveway. We both own our properties outright (no mortgages). They are both 5 acre lots M/L. This would be an even swap of lots we both feel are of equal value. Do we need a closing company, or is this something we could do otherwise?
Unless there are some local zoning issues or there is a bill of assurance for the Subdivision the lots may be in, there is no reason why you wouldn't be able to trade lots. You would each simply need to deed to the other party the lots you wish to trade and that party would do the same. Any attorney in Arkansas can prepare those deeds or you might be able to get a form to fill out but be careful with that. We have had many cases where people drafted their own documents and it took more money to straighten out the problems created that to have it done correctly in the first place.
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