Whether someone owns a residential property or vacant land that they intend to hold as an investment, real estate may be their most valuable asset. Property typically costs thousands of dollars and requires ongoing investment for maintenance, insurance coverage and tax obligations.
People generally expect to continue using the property as they see fit or selling it for a profit when the time is right, which makes what they spend to acquire and maintain the property a worthwhile investment. Unfortunately, sometimes other people interfere in the ownership rights of those who have invested in real estate. For example, squatters may move a trailer onto undeveloped property held as an investment, or neighbors may cross property lines to cultivate the land or build improvements on it.
Can those parties infringing on the rights of a private owner eventually try to claim ownership of the property at issue?
Adverse possession laws can lead to title issues
Adverse possession is the legal term for the rights of squatters or non-owners to acquire an ownership interest in a property. State statutes actually allow those who have not legally purchased a property to ask the courts to make them the owner eventually.
To acquire ownership of the property without purchasing the title rights from the current owner, a neighbor or squatter typically has to openly use the land for at least 10 years. After enough time has passed, they can file paperwork in the civil courts asking to claim their interest in the property under adverse possession statutes. Property owners can lose part of a parcel or an entire plot of unimproved land held as an investment due to the misconduct of others.
How can owners protect their rights?
The simplest way to avoid adverse possession claims is to regularly inspect the property. Intervening when a neighbor tries to build a fence over the boundary or evicting those who move onto land without permission can prevent them from establishing the ten-year use of the property required under adverse possession rules.
Learning about real estate laws, and having the right assistance when dealing with property disputes, can help owners protect their investments. Adverse possession laws put people’s investments at risk if they aren’t proactive about maintaining their ownership interests.
