Frequently Asked Questions
Q: Will I have to pay real estate taxes?
A: No. Friends of the Abraham Lincoln Historical Farm LLC is responsible for paying all real estate taxes on the property.
Q: Can I visit the property?
A: Absolutely! It is open to the public, as well as to its owners of course.
Q: What will I see when I go there?
A: You will see the land as it existed when Abraham bought it from his father
in 1841. It is an open field with high grass. There is a tree line on the western
border. The land can be viewed “as is” on our home page. There are actual
photos of the land in various places throughout the website.
Q: Do I actually own a piece of this land?
A: Yes, the deed does create a valid conveyance of an interest in real property to you.
Q: Can I transfer ownership of my piece of this property to someone else?
A: Yes, however, pursuant to the restrictions, limitations, disclaimers and waivers included in the deed, you may not sell the property for a profit. Also, if you decide to sell your piece of the property, you must sell the entire piece; you may not sell less than your entire ownership interest in the property.
Q: Can I record my deed after I purchase it?
A: Yes! You will be provided with an 8.5" x 11" black and white deed that needs to be filled out and taken to the Coles County, IL Clerk and Recorder. For more information about recording your deed, please contact the Coles County, Illinois Clerk and Recorder at (217) 348-0501.
Q: Will I be able to locate the specific piece of land I purchased?
A: We include a map and directions to the property with your deed. You can locate the lot in which you purchased an interest, but not the specific piece within that lot. You purchased a “tenant-in-common life estate interest” in the property. A “tenant-in-common interest” is a form of property ownership in which two or more persons or entities each have an undivided interest in the property. Each grantee of a deed owns a tenant-in-common interest in Lot 1, which is the one-acre lot closest to the road.
Q: What is the size of each lot? How large of a piece of the land am I purchasing?
A: It is roughly the size of a Lincoln copper penny, or roughly one square inch. To be exact, your property – the size of which matters little in comparison to its historical significance – is actually 1/14,198,352th of an acre!
Q: Why do I only get one square inch?
A: Whether you are purchasing a square yard, a square foot, or a square inch, what’s important is that you now own a piece of historic property. We chose the size of a penny for two reasons. One is the obvious connection the penny has with Abraham Lincoln. The other is that it allows more people to become owners. It is our belief that this historic property “should not belong to any one person, state, or nation but to all people everywhere who, along with Abraham Lincoln, love liberty unselfishly for all mankind.”
