Adverse possession is the acquiring of property, open and exclusively, without the aggressor, or squatter, owning the property through any compensation to the original owner. Although deemed an effective way of possession in the 1800s, this somewhat strange tactic can still be used today as most states still honor the type of possession. When trying to acquire land or property through adverse possession, there are tips and guidelines that can make the process more simple and the transition as smooth as humanly possible.
One of the most important tips when thinking of using adverse possessions is location. By researching the property and studying the condition of the estate, you can easily gain access and make a smooth transition into ownership. The key is to use abandoned properties that seem to have been poorly kept and abandon for some time. Properties that seem to have been forgotten, in some cases, have been and make for excellent squatter’s if you are a realtor.
Using council properties that have not been re-let are excellent places to start your search. Many types of the council have multiple properties, but simply don’t have the means to keep them in a gettable state. Either through mismanagement or properties with low values of let- power can result in these council properties staying abandoned for quite some time. If the property has multiple squatters, many employees take longer to evict, and simply put, some council property owners have a sense of sympathy for squatters and are willing to acknowledge the inactivity of the proposed property.
Housing Associations/ Trusts also have numerous properties to be taken into consideration. They also have a large number so of available properties and are pretty reasonable when it comes to squatters. The one problem that exists with these properties is the condition in which they are left. Most of these types of abandoned properties have been trashed and abandoned. Although choosing a property like the one mentioned isn’t impossible, by fixing broken windows and making extravagant repairs, you can bring unwanted attention to yourself and what you are trying to accomplish. Flying under the radar is always the best route to take when entertaining adverse possession.
Mortgage Repossessions by banks are huge attractions, simply because of the high numbers available through our recent economy. Normally, the original owners have been evicted, and if no one shows interest in the property, it is unlikely to expect visitors anytime soon. These places as well as For Sale homes are the most attractive in our current economic state. Although situations are finally on the rise, the real estate market still seems to be in a slump, which means potential buyers aren’t visiting, nor are they interested in the many homes available.
Be smart when picking adverse possession properties. Choosing the right property can be the difference between having a smooth transition to ownership, and possibly wasting precious time to owning a property. All states have a specific time limit the property must be obtained by the squatter, so finding a private disclosed location and remaining there discreetly can be the key to your success.