Land rich, cash poor

Op-Ed, Georgetown Times

September 14, 2008

People living on an old homeplace surrounded by acres of forests and fields may not realize that their beloved home's fate could rest in the hands of their own relatives who want to cash out.

They are living on what's called heirs' property, land passed down through generations without clear title and owned by a number of people who may be related but have little common interest.

Georgetown County is beginning to receive attention from the Center for Heirs Property Preservation of Charleston. Jenny Stephens recently conducted a workshop for property owners who cannot afford a lawyer but want to keep their land in the family.

The center targets heirs who inherited land and are potentially threatened with losing it due to the fact that ownership passed forward without a will.

"Heirs' property rights are vulnerable due to the potential for conflict among multiple heirs and the likelihood that such a conflict would result in a loss of the land," Stephens said.

She said many people living on heirs' property are "land rich but cash poor."

Without clear title to their land, owners can't get a mortgage because lenders are reluctant to accept disputed property as collateral. That drives down the value and makes the property more attractive to developers.

Land near the beach is most attractive, but as Georgetown County develops in the future heirs' property could become more sought after depending on its location. With each loss of a homeplace, we lose a piece of our heritage.

As development surrounded the Phillips community in Mount Pleasant, its residents lost access to a fishing hole, Stephens said. Fertilizer from lawns began to pollute the pond and kill the fish.

"Development changes the dynamics of a community. Buyers begin to pick off the parcels."

She cited land sold near Daniel Island for $900,000. People living on the property got around $30,000 and the rest went for attorneys' fees.

The fact remains that if members can't agree about their property and the decision goes to a judge, it will be sold 98 percent of the time.

People living on heirs' property should begin educating themselves about zoning and planning and how to get a clear title. There will be more workshops through the Center of Heirs Property Preservation in Georgetown County.

"We are making more of an effort outside Charleston County," Stephens said. "You will probably see a little more of us."