Financing in New York>Question Details

Erin Murphy, Other/Just Looking in New York

If I sign a contract to buy a house, do I also own the land?

Asked by Erin Murphy, New York Mon Apr 8, 2013

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5
BEST ANSWER
If you are buying a house you own whatever lannd is within the metes and bounds on your survey.

Chris
1 vote Thank Flag Link Mon Apr 8, 2013
Yes, typically when you buy a house in NYC you own the land. Not in London though, the queen owns it all! When it comes to co-ops and condos, usually the building owns the land, but not always. There is a thing called a land lease where the land beneath the building is owned by another party. All of Battery Park City is on landlease, and select buildings throughout the city.
2 votes Thank Flag Link Mon Apr 8, 2013
You own not just the land as per survey but you also own the air rights!
1 vote Thank Flag Link Mon Apr 8, 2013
Unless it is a leasehold.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
305-904-2355
0 votes Thank Flag Link Mon Apr 8, 2013
Generally yes................
0 votes Thank Flag Link Mon Apr 8, 2013
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