Legal Question in International Law in New York

land development, foreign country, inheritance, subsidiaries
My family has just acquired land from an inheritancem, the land is over 200 acres on the island of Roatan. just formed a corporation here in New York which is totally different from real estate or real estate development, but I was thinking to use my business somehow to get a loan to help develop the property. Now my uncle is the head on the family so he is transfering the lands to his name. His logic is to sell some of the land to get money to develop and secure the rest. He is now talking to development companies to sell some of the property. I do not agree with this. Finally, my question is should go ahead and use my company to attain a loan to develop the land ourselves or should my sell some of the property to attain money for development.

Asked on 5/24/07, 2:38 pm

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Re: land development, foreign country, inheritance, subsidiaries

The question is moot if your uncle will ultimately decide. It all depends on what deals you/he can arrange. Both options are viable.

Answered on 5/24/07, 2:55 pm

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