A cemetery or burial plot is a specific location within the cemetery, owned by an individual or organization, specifically designed to be used as a single or adjoining grave, crypt, or niche. When you purchase the right for a burial plot, you can sell it to somebody else or leave it to beneficiaries upon passing.
However, many people wonder if cemetery plots are considered real property. The answer is yes, but there are certain limitations of what you can do with it.
What Is Real Property?
Investopedia defines real property as: “The land, everything that is permanently attached to the land, and all of the rights of ownership, including the right to possess, sell, lease, and enjoy the land.”
So, according to this definition, burial plots are real property.
However, when purchasing a cemetery plot, you simply buy the right to be buried there. You don’t have most rights you would have as a landowner, nor do you pay property tax. You pay sales tax and fees to the cemetery to maintain your plot.
If you wish to erect a monument or some other structure, you must ask the cemetery’s permission. So, even though it is considered real property, there is only so much you can do with your burial plot.
What Can I Do With My Burial Plot?
The cemetery will issue a deed to make your purchase official when buying a burial plot. However, this is not a traditional deed used in real estate, and it is only recorded and controlled by the cemetery. So, this document only gives you the right to be buried at a specific location, and it can’t be considered an asset or real estate in the traditional sense.
However, there are still things you can do with your cemetery plot if you do not need it anymore. For instance, you can transfer it to someone else or sell it for financial gain. That’s why more people have started investing in burial plots as a form of alternative real estate. People invest in them and profit from reselling years after since they increase in value over time.
If you decide to sell your burial plot, you can do so via internet marketplaces or through a cemetery broker. These people specialize in buying and selling cemetery plots, and they can get you the best price whether you are trying to buy or sell.
Where to Find a Cemetery Broker?
Stephanie Salcedo is the CEO of Secure Your Legacy, a cemetery broker that buys and sells cemetery plots in Missouri City and Sugar Land, Texas. She has years of experience in the field, which is why she can secure you the best prices. Click here to contact Secure Your Legacy and learn more about our services.
