If I took out a loan for a RV against my home, can I survey out some of the land and give it to my kids?

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If I took out a loan for a RV against my home, can I survey out some of the land and give it to my kids?

Asked on September 30, 2012 under Real Estate Law, Virginia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you have a secured loan on your home (property) for the recreational vehicle that you purchased, you can try and sub-divide this property through the local zoning department. However, even if you get approval to sub-divide the property that you have written about, the lien (mortgage) on the property resulting from the loan for the recreational vehicle would remain on all sub-divided parcels since such is presumably recorded.


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