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Adverse Possession
I am was reading a real estate book and came across adverse possession. The book describes adverse possession as "involuntary transfer of property by operation of law. An owner who does not use his or her land or does not inspect it for a number or years may lose title to another person who takes possession of the land and uses it." A review question at the end of the chapter read:
Ben bought property in another state and never visited the land. Jeff moved his mobile home onto the land, had a water well drilled, and lived there for 22 years. Jeff may become the owner of the land if he has complied with the state law regarding...the answer is adverse possession. My question is this - Wouldn't Jeff be trespassing onto Ben's land? Ben owns the real property and hence caries the bundle of rights. Mathew |
Mathew, the other thing to consider is that the adversary will often pay the taxes on this property as well.
If the owner of the property knows of these events and doesn't dispute it then often the transfer becomes legal. It takes a great deal of effort to take possession but some situations have deamed it to be the most reasonable solution to an owner who just didn't care enough to defend his bundle of rights. Crazy as it sounds it can happen, and does! |
Adverse possession is one of the most difficult
Adverse possession is one of the most difficult and complicated forms of property acquiring known in my opinion.
The underlying concept is that the true owner must bring an action of ejection within the statutory period, otherwise barred from bringing suit and the investor can change name on title by bringing “quiet title” suit after statutory period. The adverse possession must be common knowledge that adverse possessor is on the property. In many jurisdictions, they require property taxes to be paid for adverse possession to be valid. Many states have vary long terms in this process, you can improve the property but you will be out the cost if the property owner files the ejection within the statutory period. The risks normally out way any profit. |
Quote:
Did Ben ever go and see his property? Adverse Possession: The actual, open, notorious, hostile and continuous possession of another's land under a claim of title. Possession for a statutory period may be a means of acquiring title. open and notorious (well known to others.) continuous (uninterrupted for the required period.) Hostile (without the permission of the owner.) exclusive (not shared with the owner.) and adverse to the true owner's possession (the adverse possessor must believe that the land occupied is his or her own.) Even if the adverse possessor fulfills all the legal requirements for adverse possession, he or she must go to court to get clear title to the property. This is done with a quite title action. It is difficult to prove title by adverse possession, and untill a court decides that title has been acquired, the claimant's title is considered to be unmarketable. |
Best definition yet!
Clearest most straight to the point response I have read to date! Well said my friend. Thank you for the fine definition! :beerchug:
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I agree
I agree with Dan. Great response.
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