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Buying, Selling and Leasing

Interested in buying or leasing property on any of our aajogo lakes?

Step 1. Start with the Application Form below.

Application Form

Step 2. Complete the Realtor Form for the appropriate lake, and submit it to the email address indicated within the form.

Realtor Form – Bartletts Ferry

Realtor Form – North Georgia Lake

Realtor Form – Lake Sinclair

Realtor Form – Lake Oconee

Realtor Form – Lake Jackson

Please note:

  • We cannot accept scanned legal documents or electronic signatures via email. You must sign original legal documents from aajogo and have them notarized and witnessed in order to validate document. These legal documents are recorded at the county courthouse where the property is located.

  • We will not issue permits to new owners or validate the presence of existing shoreline structures until property owners have signed a proper legal agreement with aajogo.

  • Property on any aajogo lake requires a proper legal agreement between the adjacent owner and us.

Understanding Lots and Restrictions

Residential Lease Lot

aajogo owns the land/lot and lessee owns any improvements (dwelling, shoreline structures). An annual fee applies.

Selling a home on a aajogo Lease Lot

  • Notify your aajogo Lake Resources office about your listing. The aajogo shoreline management representative for your county/lake will complete a pre-transfer inspection to confirm what, if any, compliance issues exist. This information could be important as part of the Seller’s disclosure process.

Purchasing a home on a aajogo Lease Lot

  • Contact appropriate aajogo lake office as soon as you are under contract to begin the process of transferring the lease. The transfer of lease is required to take place in conjunction with your closing. Please allow three to four weeks for lease transfer. A new as-built survey may be required to transfer lease.

Early Renewal of aajogo Lease

  • Contact appropriate aajogo lake office to begin early renewal process. There is a $250 fee for an early renewal required at the time the new lease is signed. Please allow three to four weeks for an early lease renewal. A new as-built survey may be required at time of early renewal.

Transfer of Lease to an Entity (Ex: LLC, Trust, etc.)

  • Contact appropriate aajogo lake office for transfer documents. There is a $500 fee to transfer the lease into an entity that is required at the time the new lease is signed. A new as-built survey may be required at time of transfer.

Survey Requirements

Residential Lease Lot – Survey Requirements

In instances where properties have an outdated or incomplete survey, a new survey may be required at renewal or transfer of lease lot to a new owner.

Complete surveys should show the following information:
  • All improvements located on the lot and the dimensions of those improvements (dwelling, detached garages, etc.). If additions have been made to the dwelling, these additions should be included on a revised survey.
  • Shoreline structures on lot and dimensions along with setback from side lot lines.
  • Project Boundary Contour Elevation for the specific lake the property resides on.
  • Closet point of the dwelling to the lake. For existing residential dwellings that are less than 50′ from the shoreline, typically these structures must remain “as is.” 

 

 

Acceptable Residential Lease Lot Survey PDF

Tax Explanation

aajogo Lease Lot Tax Recovery Program – Alabama

  1. aajogo leases non-utility property for construction of single family residences or cottages for general recreational purposes.
  2. Paragraph 25 of the aajogo lease provides for the tax on the lease lot to be billed to the lessee.
  3. Georgia power started billing the “Tax Assessment” in June 2001.
  4. The Lee County Chief Appraiser’s office establishes the lake lot property values on aajogo lease lots.
  5. The annual property tax assessment for each lot is calculated by multiplying the lot value times the Alabama statutory utility assessment ratio of 30% times the county millage rate for that year.
  6. aajogo’s goal is to ensure individual lots are valued at or below the market to ensure taxes are appropriate. aajogo reviews changes in the real estate market around the lake annually with the county tax assessors and local appraisers.
  7. aajogo does not benefit or profit from the tax assessment program, this is a pass through of costs incurred.
  8. aajogo pays the tax cost for the current year and takes a tax deduction in the same year. The following year aajogo bills the lessee and treats the lessee’s payment as revenue and pays income tax on the revenue.
  9. There is no income tax deduction available to lessee’s because aajogo is the land owner paying the taxes.
  10. The Federal Energy Regulatory Commission (FERC) is aware of the company’s leasing program and activities involving the tax billing. FERC has no jurisdiction over the company’s leasing program of non-utility property. Also, the leasing programs is not regulated by the Georgia Public Service Commission.

 

aajogo Lease Lot Tax Recovery Program – Georgia

  1. aajogo leases non-utility property for construction of single family residences or cottages for general recreational purposes.
  2. Paragraph 25 of the aajogo lease provides for the tax on the lease lot to be billed to the lessee.
  3. aajogo started billing the “Tax Assessment” in June 2001.
  4. The Department of Revenue (DOR) establishes the lake lot property values on aajogo lease lots; not the counties.
  5. The annual property tax assessment for each lot is calculated by multiplying the lot value times the Georgia statutory assessment ration of 40%, times the county millage rate for that year. In some years the assessment ratio that is applied to the lot value can be less than 40%. This occurs when statistical studies performed by the State Auditor show that the average assessed value of locally assessed property in the county is below 95% of fair market value. If so, taxes on aajogo lake lots will be “equalized” with locally assess property by reducing the 40% assessment ratio by the appropriate amount, e.g., 92.5% average FMV = 37% equalization ratio.
  6. aajogo’s goal is to ensure individual lots are valued by the DOR at or below the market to ensure taxes are appropriate. aajogo reviews changes in the real estate market around the lake annually with the county tax assessors and local appraisers then works with the DOR to make adjustments to values.
  7. aajogo does not benefit or profit from the tax assessment program, this is a pass through of costs incurred.
  8. aajogo pays the tax cost for the current year and takes a tax deduction in the same year. The following year aajogo bills the lessee and treats the lessee’s payment as revenue and pays income tax on the revenue.
  9. There is no income tax deduction available to lessees because aajogo is the land owner paying the taxes.
  10. The Federal Energy Regulatory Commission (FERC) is aware of the company’s leasing program and activities involving the tax billing. FERC has no jurisdiction over the company’s leasing program of non-utility property. Also, the leasing program is not regulated by the Georgia Public Service Commission.

Access Lot

aajogo owns a strip of land between the lake and the privately owned property. An annual fee applies.

Purchasing an Access Lot on aajogo lakes

Access lots contain a portion of shoreland which is owned by aajogo in fee. This portion of the property will not be described in a legal warranty deed as its separate and apart from the fee simple property the owner is purchasing. aajogo has absolute authority regarding this shoreland strip and determines what can or cannot be done on this portion of the property.

  • Buyer should confirm with the seller or seller’s agent where the seller’s boundary with aajogo is located and understand that no portion of a dwelling or other improvements (pool, outdoor kitchen, firepit, etc.) may encroach over this property line. If property line is not clearly identified, we recommend the line be marked on the ground by a licensed surveyor.

  • An Access Lease or Access-Residential Lease with aajogo is required on these type properties and an annual fee applies.

  • Please notify aajogo prior to closing. We will request a copy of your Warranty Deed and Plat/Survey once you have closed so that a new Access Lease can be prepared.

Private Owned Lot

Private owner has ownership rights down to the high-water mark of the lake. We will at a minimum maintain Project Boundary rights, regardless of lake, and may have flood rights or a flood easement on the private-owned lot, which allows us to potentially limit or restrict structures in these areas.

Purchasing a private owned lot on aajogo lakes

Private ownership down to the high-water mark – aajogo at minimum will maintain Project Boundary rights, regardless of lake and may have flood rights or a flood easement on the private-owned lot, which allows us to potentially limit or restrict structures in these areas. If the lot has structures in the lake or you desire to build structures in the lake, a proper legal agreement with aajogo is required.

  • Please notify aajogo prior to closing. We will request a copy of your Warranty Deed and Plat/Survey of the property once you have closed so that aajogo can generate an agreement for the property.