RME Land Owners Group??

jeeper

Currently without Jeep
Location
So Jo, Ut
So, is there a for real interest in a group buy of land? We have talked about it many times, and have even looked at a couple parcels in the past.

I think I am totally down.
My requirements include:
1- Ability to make a shooting range.
2- Ability to get a camper trailer in.. rough roads are fine.
3- Group of people who can get along most of the time, and make group decisions like adults.


You can buy a LOT of land in crappy flat areas, or 5-20 acres in wooded mountain areas for what I think the group could buy.
 

J-mobzz

Well-Known Member
I would definitely be interested if the opportunity makes sense for me. But that said it’s not something that interests me enough that I would do a ton of legwork personally to make it happen and organize.

Do you have an estimate on what kind of buy in you would anticipate? $10k, $20k

And I imagine you have much more knowledge than I do on how you legally buy land as a group. If I own 1/10 of a share and five years down the road I decide to move to the East Coast and don’t want to keep the property is that something I can sell my 1/10 of? is it like a board of directors that has to vote to let a certain person in? Meaning can I just post a classified ad or do I have to find somebody cool that everybody wants to join? Can you vote me off the island? I’m asking these questions related to me. but curious for other people. What if everybody collectively decides one of the owners sucks? Can you vote to buy them out?
 

jeeper

Currently without Jeep
Location
So Jo, Ut
And I imagine you have much more knowledge than I do on how you legally buy land as a group. If I own 1/10 of a share and five years down the road I decide to move to the East Coast and don’t want to keep the property is that something I can sell my 1/10 of? is it like a board of directors that has to vote to let a certain person in? Meaning can I just post a classified ad or do I have to find somebody cool that everybody wants to join? Can you vote me off the island? I’m asking these questions related to me. but curious for other people. What if everybody collectively decides one of the owners sucks? Can you vote to buy them out?

1670539524115.png


We'd have to look into all the right answers. I know there are different ways to title land for ownership.. or we start an LLC with rules and by laws. But there would have to be some sort of formal agreement and rules each owner agrees to, which makes it complicated of course.
 

xj_nate

Doctor, economist, polical expert, poser
Location
UT
It's all in the legal documents and you'd have to cover ALL of the bases. If you want to cash out, you need to provide X amount of months for the value of your share to be determined etc etc.

Definitely need a "vote them off the island" clause too.
 

Corban_White

Well-Known Member
Location
Payson, AZ
I don't know anyone that does this with land, but I do know people who have "shares" in houseboats. From listening to them talk, they have everything set up to answer all of those questions. So there definitely is a precedent to model things after. I was on the board at my kids' charter school for a couple of years, and if a group of parents can get one of those organized and it can still be a great school 15 years later when all the original passionate founders are gone, legally setting up some rules to govern group land ownership should be fairly easy comparatively.
 

jeeper

Currently without Jeep
Location
So Jo, Ut
I don't know anyone that does this with land, but I do know people who have "shares" in houseboats. From listening to them talk, they have everything set up to answer all of those questions. So there definitely is a precedent to model things after. I was on the board at my kids' charter school for a couple of years, and if a group of parents can get one of those organized and it can still be a great school 15 years later when all the original passionate founders are gone, legally setting up some rules to govern group land ownership should be fairly easy comparatively.

I think so also.

Or, maybe when we disagree, the people who disagree just have a duel on the property? Winner gets the losers share?
 

anderson750

I'm working on it Rose
Location
Price, Utah
Research the access to this. This whole area is what the BLM just finished doing a TMP on and there has been a lot of roads and trails closed.
 

jeeper

Currently without Jeep
Location
So Jo, Ut
Ok, I have spent waaaay to much time looking at land today.

The land I talked about above is actually cut into a 40 acre parcel, and an 80 acre parcel, with 40 acres of private land between. All the land around is BLM and SITLA, and 320 acres owned by 1 person, who owns the piece between ours.

land.png

The top parcel is very wet. I don't know if that would be marsh land, or useable land. The actual river is just outside the parcel to the top right.

The lower parcel is flat ground, with cottonwood wash going through the bottom.
 

cruiseroutfit

Cruizah!
Moderator
Premium Vendor
Location
Sandy, Ut
I co-own land with others. LLC, operating agreement and buy/sell clause would be wise… as is developing a ’mission statement‘ for the property. What do you do when party x wants to let their kids build a dirt bike track on the land? What do you do when party y wants to let friends camp on the property and it’s the same weekend you had planned to be there? How do you handle costs associated with the land, taxes, improvements, repairs, liabilities? All good things to pre-sort and pre-vet with buyers.
 

Johnny Quest

Web Wheeler
Location
West Jordan
I've thought about snagging a chunk of land like that to put the trailer on, and to screw around on without worry, but I would want it close enough that a day trip isn't out of the question; so I've been looking (and limiting myself) to something within 2.5 hours from home.
 
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