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Archive for the ‘Equestrian Property’ Category

The Basics of Easements

Saturday, March 24th, 2012

When buying farms, ranches or land something that you must be aware of and run into frequently is easements. An easement is an irrevocable right to the use of another person’s property. Easements are often misunderstood and this misunderstanding of easements can lead to significant headaches later down the road after closing on a property.

One of the first basic things to determine about the easement in question is, is it appurtenant or in gross. An in gross easement is an easement for the benefit of a person whether they own property or not and does not pass with the land. For example if an in gross easement was granted by a neighbor to fish on their property to Joe and Joe sells his property, Joe’s easement does not pass to the new owner. Joe would still have the easement to fish on the neighbor’s property. However, if an appurtenant easement was granted for Joe to fish on the neighbor’s property then the easement would pass with the land at the time of sale to the new owner. As you can see, it is very important to determine what type of easement it is before you purchase a property.

Something else that you will want to be aware of is there are times where there may not be a written easement but there may be an implied easement or a case for a prescriptive easement. These are easements to research more if you are purchasing property where others are using the property on a regular basis without a written easement. Even though there is not an easement in writing they may be able to establish an easement if they can meet and prove certain criteria. In which case, you would have to continue to grant the easement.

Easements are something that you will run into often when purchasing property. They may be utility easements, rights-of-ways, oil and gas easements, easements for access to property, etc. You will want to understand them and how they will impact your use and enjoyment of a property.

There are many other types of easements and far too many details to discuss in this short article. If you would like to know more about easements, consult your broker or attorney.

Why you Should Exchange Under IRC 1031

Monday, November 2nd, 2009

There are several reasons that you as a property owner should participate in a 1031 exchange. For those of you who are not familiar with 1031 exchanges, 1031s are a way to defer taxes on the capital gains from a sale of investment property.  1031s can be very complicated and you will also need the help of a 1031 qualified intermediary. There are 5 main advantages to exchanging property.

  1. Preservation of Equity – 1031 exchanges allow owners to defer taxes on the capital gains from a sale indefinitely. This allows the owner to roll the gains into a new property over and over rather than pay the taxes. Keep in mind that if you do 1031 exchanges and then at some time in the future decide not to exchange you will owe taxes going all the way back to your original basis.
  2. Leverage – You can exchange from a property that you have a high amount of equity or one that you own “free and clear”  into a property of much more value and has a higher cash flow.
  3. Diversification – Exchangers can diversify by exchanging out of one property into two or more properties. There are time considerations that must be taken into account. Consult with an attorney prior to engaging in an exchange involving multiple properties.
  4. Management Relief – If you as an owner have accumulated several single family rentals that require intensive management you can exchange them for one single investment property that requires substantially less management.
  5. Estate Planning – In many cases, several members of a family inherent a single property jointly and cannot agree on what they want to do with it. The family members can exchange the property for several different properties that suit the needs of all family members.

Always consult with an attorney who is familiar with 1031 exchanges.

To find your replacement 1031 ranch for sale, farm for sale, mountain land for sale, equestrian property for sale, or land for sale visit www.landbrokermls.com.

What to look for in a Mountain Trail Horse

Saturday, October 17th, 2009

Over the last several years, trail riding has become very popular. Trail riding can be very different from region to region and the horse required to safely trail ride in those regions is different. Riding at lower elevation and flat open country is not as demanding on the horse and riders can get buy with horses that have had very little trail experience. When riding in the high country, it becomes increasingly more important for the rider to have a very well broke, gentle, bomb proof, sound horse especially if the rider is not very experienced. Safety is paramount as most times emergency services are not nearby. For this reason, riders should always use the best horse available to them.

Good mountain horses are generally older horses (13 years old or older) that have seen it all. They have been over the mountain. Below is  a list of tasks that any good mountain horse is comfortable doing or having done on them as well as tasks the rider should be able to do.

1. Rider can mount and dismount from either side without assistance.

2. Horse will cross streams, step over logs, step onto ledges etc. without balking.

3. Horse should not spook at the site of rain slickers, jackets, tarps, or other gear.

4. Horse should not spook at the sound of rain slickers or jackets being put on.

5. Horse should be able to trail with other horses without conflict.

6. Rider should be able to maintain complete control of horse at all times.

7. Horse should have no buck in them.

8. Horse should have good feet free of cracks in the hoof wall.

9. Horse should be comfortable with having ropes wrapped around his feet.

10. Rider should be able to easily bridle and saddle horse.

11. Horse should not shy away from rider especially when dismounting.

The gentler the horse the safer the rider will be and the more a  horse has seen the gentler they will be. It is also good while not a necessity if the horse can be packed on. Generally if a horse is a good pack horse he has seen and heard just about everything from tarps to rattling pans. For this reason good pack horses also make excellent trail horses. An experienced rider can spend time working with a horse to get them comfortable with different obstacles and objects that will help make them a safer mountain trail horse.

If you are looking for mountain land or equestrian property where you can trail ride, visit www.landbrokermls.com.

Proper Ranch, Farm, and Land Planning After Closing

Wednesday, August 26th, 2009

It never ceases to amaze me how many people fail to put in place a proper overall plan for their ranch, farm, or recreational property. They decide where they will put the house and maybe a barn but never think further down the road and ask themselves “What do I want my property to look like in twenty years and how do I plan to utilize it?”

When putting a property plan together you need to consider at the very minimum:

1. What do I want to utilize the property for? Raising cattle or horses, hunting, recreational….

2. What type of facilities will I need? Barns, corrals, cattle working facilities, fencing, feed storage, etc. You will want to plan out placement of facilities as far out as you can even if you cannot afford to build all of the facilities at once.

3. How will the facilities work together? ie. You would want your feed storage close to where you will do most of your feeding yet allow for easy access for trucks for unloading. You will want your cattle working facilities to work with your pasture layout so that you can drive cattle to them easily.

4. Where will your utilities be located?

5. Where will your water wells and storage be located and how will I transport water to where I need it?

Depending upon the use planned for your property you will need to consider other factors. Planning in advance will save you many headaches and result in an aesthetically appealing, well planned property instead of a hodgepodge property. You may be limited on what you can do if you purchase a property that already has facilities in place. However, you will still want to layout an overall use plan.  For example you may have bought a Montana ranch that already has facilities built for working cattle but you plan to utilize the ranch for a horse breeding, boarding, and training property. Therefore, in your plan you will want to address the change in use and determine what existing facilities can be used, which existing facilities will need to be replaced and which facilities will need to be added in order to utilize the property to the fullest extent as a Montana Horse Ranch.

Finding Your Perfect Equestrian Property

Tuesday, August 25th, 2009

If you are a horse lover and your dream is to own your very own horse property, there are several factors that you will want to consider when you begin to look at equestrian property for sale. You will need to determine what your goals are. Do you simply want a property where you can pasture and stable your own horses and ride elsewhere? Or do you want a property where you can ride for miles, or breed horses, or board horses, or train horses?

The answers to these questions will help you determine what features your property will need. For example, if you are looking for a Colorado Equestrian property for sale where you can stable and pasture your horses but want to limit the cost yet be able to ride for miles then you will want to look at small Colorado equestrian properties that border National Forest,  Bureau of Land Management land, or state land. On the other hand, lets say you are looking at Oklahoma Equestrian property for sale and would like to stable and pasture horses and have the ability to ride long distances. You will want to  look at Oklahoma equestrian properties with large acreage.

You will also want to consider what other features your property will need. If you are planning on breeding horses, then you will need breeding facilities with a number of paddocks where you can keep your mares and stallions separate. You will also need vet facilities, exam stocks, breeding dummies, stalls, etc. If you plan on boarding horses, then you will need to consider the number of horses you will want to board and then look for property with an equal or greater number of paddocks and stalls. You will also need feed storage, tack storage, farrier area, riding areas such as indoor and outdoor arenas, and possibly jumps and other equipment for riders to use while training.

These are just a few areas you will need to consider when looking for your perfect equestrian property. Good planning will save you a lot of time when looking for property as well as time and money saved after closing.