New York  |  Real Estate Law

Legal Question

Asked on: 5/03/07, 9:55 am

real estate

mY FAMILY HAS JUST ACQUIRED LAND FROM AN INHERITENCE. tHE LAND IS OVER 200 ACRES ON THE ISLAND OF ROATAN HONDURAS. i JUST FORMED MY OWN COMPANY AND i AM PLANNING TO ACQUIRE A LOAN TO HELP DEVELOP THE LAND. nOW CURRENTLY MY UNCLE IS THE HEAD OF THE FAMILY. BEFORE HIM WAS MY FATHER, WHO DISSAPPEARED HERE IN THE UNITED STATES. mY UNCLE FEELS THAT HE TRANSFER ALL THE LAND TO HIS NAME SO THAT HE CAN DISTRIBUTE WHAT EVER MONEY WE MAKE FROM SELLING THE PARTS OF LAND. hE IS NOW TALKING TO A DEVELOPMENT COMPNAY FROM FLORIDA. WHERE HE GOT THE NUMBER i DO NOT KNOW. fINALLY, MY QUSTION IS SHOULD i GO AHEAD WITH MY COMPANY,ATTAIN A LOAN TO TRY TO DEVELOP THE LAND OUR SELVES (WITHOUT SELLING) OR SHOULD WE SELL TO THE DEVELOPMENT. ALSO WHAT TYPE BUSINESS WOULD BE GOOD FOR SUCH A LARGE SOME OF LANDS

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