Lady buys land under lake and wants to have it drained??

GothingNC · 12-06-2007, 03:49 AM

RALEIGH - Kristin Wallace bought some very wet land as an investment. Eight acres of it, all underneath Lake Lynn.
The Cary woman bought the land for $12,500 last year at a public auction of property with delinquent taxes. Now she is suing to try to force the city of Raleigh or Wake County to buy the soggy land from her or drain it.

http://www.newsobserver.com/print/thursday/front/story/814331.html

Another drain of the taxpayers dollars to contest the lawsuit

MotoSook · 12-06-2007, 04:22 AM

Looks like misjudgement on both sides. The local gov'ment wanted a default claim to the property/deed, and along comes this woman who sees an opportunity. Sure it sucks that the local gov'ment has to spend time and money on this, but they should have thought ahead a few steps. No excuse, but local gov'ment isn't always stocked with the brightest individuals.

If I had a chance to buy a 12 acre lake or land for $13K, I'd jump on it, provided the easement agreement didn't take away too much of owner's right to use the land. A huge mofo house boat on a 12 acre lake in N.C. would be a heck of a getaway.

cashflyer · 12-06-2007, 04:27 AM

Now that she owns the land, she should put up a house... like stiltsville in Florida. I'm sure the city would be anxious to buy the land from her as soon as they see workers driving the first pilings.

Or not. In which case she could make a nice adult establishment on the lake.

livi · 12-06-2007, 04:31 AM

Maybe she start an alligator farm..

GothingNC · 12-06-2007, 06:10 AM

posted on Fark

http://forums.fark.com/cgi/fark/comments.pl?IDLink=3251082

Easements that allowed the county to flood the land carry over to the next owner, who can't demand that the lake be drained, she said. Francis Raspberry, the deputy city attorney handling the case, says the city's easement allowing recreation on the property also transfers to the new owner.

Mo_Gearhead · 12-06-2007, 12:50 PM

How sad for her. **sniff**

They sell (auction off) property (in Missouri) for unpaid taxes, every year on the county, court house steps. MOST individuals are SMART enough to get a listing and INSPECT the properties and any easements/etc. recorded PRIOR to sale day.

Rent it out for baptisms.

kstar · 01:11 PM

Guess this property will be back at auction for delinquent taxes again soon.

Best,

Kurt

edit: If the property is encumbered with the easements as stated above, seems like the city or county should own the lake, unless there is some other way for a private landowner to benefit, IMHO. I'm not sure why an informed person would buy the property???

TyFenn · 12-06-2007, 02:22 PM

I thought she was going to sell the water - might be some money there.

I don't really know how she could/would get paid but that's what I was thinking when I opened this post.

Buy a lake and sell the water - could be lucrative, again, how I do not know.

the · 12-06-2007, 02:29 PM

Quote:

Originally Posted by kstarnes

Guess this property will be back at auction for delinquent taxes again soon.

Best,

Kurt

edit: If the property is encumbered with the easements as stated above, seems like the city or county should own the lake, unless there is some other way for a private landowner to benefit, IMHO. I'm not sure why an informed person would buy the property???

An easement just gives a right to use, not ownership. If you look at the title to your house, you will likely see that you have granted easements to various entities, too. For general stuff, like running power lines, sewage lines, etc.

It's just in this case, it's a bit of an extreme easement, giving the county the right to let vast amounts of water go onto the land.

So, when she bought the property, she got the property, but in doing so, she agreed that the county could let the water stay. Apparently, under the easement, the county has the right to cause the removal of the water, if they want. But doesn't have the obligation to do so.

kstar · 12-06-2007, 05:10 PM

Quote:

Originally Posted by the

An easement just gives a right to use, not ownership. If you look at the title to your house, you will likely see that you have granted easements to various entities, too. For general stuff, like running power lines, sewage lines, etc.

It's just in this case, it's a bit of an extreme easement, giving the county the right to let vast amounts of water go onto the land.

So, when she bought the property, she got the property, but in doing so, she agreed that the county could let the water stay. Apparently, under the easement, the county has the right to cause the removal of the water, if they want. But doesn't have the obligation to do so.

Yup, I understand that.

As I said, the "land" is encumbered by the easements, i.e. the owner must allow the water to flow onto the property and allow recreational use of that water by the public, I assume.

My question remains, what motivation/benefits may exist for anyone other than the city or county to own the submerged land.

Might the easement expire one day? Mineral rights?

I dunno, just seems like a worthless piece of land to me considering the easements. I guess the answer lies within the deed and its covenants.

Best,

Kurt

the · 12-06-2007, 05:56 PM

Quote:

Originally Posted by kstarnes

My question remains, what motivation/benefits may exist for anyone other than the city or county to own the submerged land.

Apparently, not much. Which is probably why the person who owned it previously quit paying taxes on it and let it go (basically threw it away), and why it only fetched $12K for 8 acres at auction.

Aurel · Aurel's Garage

I`d love to own a lake. I would build a lake house on its bank. 12.5 grands was a steal for a lake.
She just need to learn fishing...

Aurel

cashflyer · 12-07-2007, 05:14 AM

Seriously, I think she should build one of these; either as a home or as a business.

Zeke · 12-07-2007, 09:20 AM

Quote:

Originally Posted by Aurel

I`d love to own a lake. I would build a lake house on its bank. 12.5 grands was a steal for a lake.

Aurel

Me too. I think I'd build a dock at least if the waters are navigable in small craft. Put in concessions. I don't think anyone said this was non commercial land. In any event, she is either a real con or real stupid.

the · 12-07-2007, 10:00 AM

That would be funny if she built a big stilt structure like that, and then the county, just to f*** with her, drained the lake (as they are allowed to do under the easement)!

cashflyer · 12-07-2007, 10:42 AM

If she makes it a titty bar, men will get there - whether lake or mud, men would get there.

You know.... except for those men who are afraid to see boobs.

looneybin · 12-07-2007, 12:33 PM

it could be like Porkey's

Zeke · 12-07-2007, 03:37 PM

Quote:

Originally Posted by the

That would be funny if she built a big stilt structure like that, and then the county, just to f*** with her, drained the lake (as they are allowed to do under the easement)!

Then put in some sport shooting equipment. the, you should get to know me. I AM the guy that makes a silk purse out of a sow's ear. And, I mess with people because I can.

Rob Channell · 12-08-2007, 05:43 PM

A cousin once told me of several subdivisions in his area built from land like that. The buyers went in with some big equipment and dug the marsh into a deeper type lake, using the extra dirt to build up the land around the lake. Poof! Instant lake and lakefront property $$$

johnco · 12-08-2007, 06:19 PM

wouldn't take long and that lake would be built up with camps on stilts and houseboats tied to wharfs down here. in fact, the city is developing camps to rent and a restaurant on the water at one our lakes soon. it's hard to find land that wasn't underwater at one time anywhere over here