BobKamman
Level 15
04-04-2022
11:30 AM
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I have no idea what's typical in your jurisdiction because I don't know where you are. Around here, it's mostly done with a permanent easement, and he would have signed a new deed granting it over just that portion of his property. And then he would reduce the basis of either that part of it, or the entire parcel, so there would not be a sale or a gain until the basis fell below zero.