Will Conveyance work instead of subdividing?
I just bought 2 4-plexes with a total of 8 apartments. The 2 properties are on one deed, making it a commercial property, or at least requiring a commercial mortgage with a much larger interest rate. However, the buildings are described separately on the deed and even have separate addresses. My frontage on the property is not enough to subdivide but someone mentioned a conveyance to me as a possible way to split two properties from one deed into two. Does it sound like this would be possible? How would it work?
Categories: Commercial Real Estate Tags: Apartments, Commercial Mortgage
