Selling a cemetery plot is more challenging than selling residential and commercial plots. While most cemeteries allow you to transfer the plot back to them, this may not always be the case. Further, the plot buyback is typically carried out at rates that are lower than the original purchase price.
Insurance expert Gary P. Cubeta from Insurance for Final Expense recommends working with a cemetery plot broker if you plan to sell cemetery lot. You will also have to determine if the cemetery has specific terms and conditions for the sale or purchase of cemetery plots.
What is a Cemetery Plot?
A cemetery plot is a specific area of land in a public or private cemetery or other vacant space used to bury caskets. Most cemeteries in the U.S. need licenses and registrations to operate and function.
People who want to buy cemetery plots will have to approach the cemetery manager or other relevant authority. While cemetery plots are much cheaper than standard real estate plots, the price of the plot would also depend on the availability of the same. There are different types of cemetery plots that buyers can choose from.
Single plots are plots that have enough space to bury just one casket. The plots are typically wide enough and deep enough for one casket. Some single plots may be deep enough to house additional caskets one over the other. Single plots are the most popular types of cemetery plots bought and sold in the plot market. It is also much easier to sell single plots than sell family plots or other bigger plots.
There are two types of family plots that buyers can choose from. Companion plots are wide enough for two caskets. These plots are ideal for companions and couples who want to be buried alongside each other. Companion plots are more extensive than single plots in width and depth.
Families who live in the same locality may also choose to buy family plots. These plots are even more significant than companion plots and can house multiple caskets. Family plots are dedicated to a family. Experts like Gary P. Cubeta from Insurance for Final Expense assert that it would be harder to sell cemetery lots that are as large as family plots.
Even cemeteries may seem reluctant to buy back family plots since they would have to find new buyers interested in investing in large plots. Some cemeteries may find ways to divide the family plot into subplots and sell each subplot as individual plots. The headstone of the plot usually has the family name engraved on it.
If you have to sell a family plot or part of a family plot, it may be best to hire a cemetery plot broker to manage the transaction. Brokers may be able to carry out the sale through churches and other organizations. There are several other plot options you can choose from if you want to go for cremation or green burial options.
Precautions to Take While Selling Plots
You may have to obtain prior permission from the cemetery authorities. These plots cannot be treated like private plots of land. There are several precautions that sellers may have to take to sell cemetery plots.
State Laws on Cemetery Plots
Some states may have specific laws on the purchase and sale of cemetery plots. Before you start looking for a buyer, you may want to verify if the plot is in a registered cemetery area.
You may also have to submit proof of the fact that the plot is from a licensed cemetery. Your broker can help you gain a detailed understanding of the relevant laws surrounding cemetery plots in the state. It’s best to carry out the sale in an authorized way if the laws specify procedures and conditions.
Sellers may want to refrain from giving away too much personal information to potential buyers and plot brokers. It’s best to avoid disclosing baking information and other sensitive information over phone calls.
An expert lawyer can help you draft relevant documents and ensure that the sale is made in legally appropriate ways. Your attorney can identify any potential legal issues that are likely to crop up.
There are several complications associated with selling burial plots or cemetery plots. The best way to sell plots you no longer need may be to sell them back to the cemetery. The services of a plot broker can be of critical help but bear in mind, they will charge a commission. You will also have to ensure that you don’t violate any state laws or cemetery rules while carrying out the sale.