OfflineI don't think this question has been asked in here before. Does anyone have experience with Government/Reservation-leased land?
During the winter I looked at a cabin on a gorgeous lake in Minnesota. Everything else on the lake is going in the $100K-$300K range (of course those are newer and include land). The cabin was REALLY cheap ($15,000), but the land it was on is Reservation land and is leased (I think it's like an 80-year lease). Now the yearly lease is not that much, like $1500, and it is an awesome place to have a summer home or vacation rental, but there are a lot of restrictions to using the property, and it is all subject to the discretion of the tribal council (even the OK to purchase the cabin). I was deterred by people saying "Oh you never know when they're going to change something or raise the taxes. It's too risky." So I let it go.
Well, since then I've talked to people that say they owned cabins for YEARS on Government-leased property, and there are hundreds of people that do. And that it is NOT risky, because the lease costs generally remain low and are contracted for many years. The only catch is that technically ANYONE can go straight through your property at any time because it is owned by the government, therefore all citizens have a right to easement (say to fish a lake).
Any thoughts on this subject?
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
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Never knew about leased-land. I learned something new today and it's before lunch even! LOL! Interesting topic would love to know more about it since, I'm looking for a summer home. Ha! No but seriously, sounds interesting, let me know what you learn. So doesn't that mean the land is actually owned by a reservation not the government? Or is that just the term for it? Enlighten me oh wise one! ;D
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Hey, Lena. Yes, the one I looked at, the land was owned by the Indian Reservation. But a couple of the lakes my husband fishes on, the property is owned by the Federal Government, and is leased by the cabin owners. (He doesn't go across the property) Also, I heard that if you don't renew your lease on the land, you actually have to remove the buildings and other things off the property. Interesting, huh?
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Really? Wow, that's a pain in the you-know-what... LOL! But I guess that would be motivation to renew your lease huh? Very interesting, yes!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Rina bout 20 years ago my parents leased 25 acres of land from the Pachanga Indian Tribe with 2 2 bedroom houses on it. The houses were not much to speak of but the leased the land and bought the houses for 2500.00 each and still today, our family holds a 100 year lease on the land and rent hthe houses out (with the additions and improvements) for 850.00 per month to locals.
Its a great deal if you can find one. But I cannot ever sell the house, the can only be passed through the family. Right of survivorship
Anita
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