I am trying to buy a lake cabin from a family friend and I can not seem to get a straight answer on how it works out there. The lake is owned by the city of Sweetwater. I have been told that to buy the cabin, I am supposed to sign a bill of sale and the transfer of the lease will go to me. Apparently, you can not buy the lot as the land is owned by the city. When I asked about a title for the house, I was told there is no title nor a deed. That the lease says any and all buildings, improvements, etc... done to the property is owned by the city.

Does this sound right? Is there anyone familiar with something similar to this?

The guy who would be our neighbor, has a massive house, two big barns, dug a ditch and built a dock out there. I can not imagine that there is any way imaginable, someone would spend hundreds of thousands of dollars on a house and whatever else and still not own any of it. Anyone know anything about this?

Speak to a local realtor or title company. Maybe talk to the county tax appraiser office.

Big red flags. Talk to a lawyer or judge in Sweetwater

I think that’s how it works on Lake Weatherford. I wouldn’t “buy” one like that.

That land is lease hold. How long is the lease?

Bee'z is spot on. Lake Worth used to be that way. I had a house on it and I believe it was a 99 year lease. Cant remember the details but several years ago the homeowners were able to get the land too.

They talked about this in an episode of Better Call Saul. Guy had a leased home with the city, and there was a big construction project claiming immanent domain on the property. The guys lease had a buyback option where the city could buy back the house and kick the guy out, but it was based on the price the guy paid to build the house 50 years ago. Ended up not being a very good deal for the guy.

I have a friend that owns two houses on lake SW, I will ask him how his is set up.

Lawyer up - any and all improvements to a lease STAY with the lease. (Unless otherwise stated in the lease).

Get a lawyer - a Realtor can't give you legal advice. A Title Company may be able to help if they are familiar with the area. Have a copy of the lease in hand.

Lake Sweetwater. It's either dry or its full. There is no in between.

I've looked at "99 year" lease properties before.

I had concerns regarding transfer ability upon death and of course if the lease will be renewed in "99 years"

My gut told me to look at other options. Always follow your instincts regarding property purchases.

Figured it out today. It's an annual lease. There is a deed for the building on the property. I would own the building and the city continues to own the land itself for a lease fee of $600 a year.