Is a company: no
Is a proper noun: no
- use it or lose it
- squatter's rights
Definition of Adverse Possession
- Also known as "squatter's rights." This refers to a person or persons getting title to a piece of property or land by simply using it without any objection from the legal title holder. Where the law permits, anyone one who uses land for 10 years or more openly as if they owned it, will be granted ownership of it.
Related Terms and Acronyms
- Adverse Use — Definition,
- Use of someone's property without permission.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Aviation Easement — Definition,
- An agreement that grants the right to fly airplanes over property, even if the practice causes damage, inconvenience, or loss of property value. Such an agreement usually restricts the property owner from building or growing anything over a specified height.
- Common Law Marriage (CLM) — Bank,
- To be recognized as being married without foregoing a matrimonial ceremony.
- Easement — Definition,
- Giving persons other than the owner access to or over a property.
- A means by which access or right of way is granted by law if an owner of a property is negligent in restricting access or enforcing trespassing laws for ten years or more.
- Possession — Bank,
- Something that is owned.
- The condition of having signed all the papers at closing and having received keys to the house.
- Common Law (CL) — Acronym, Very Important,
➥ Laws developed by judges through court decisions and precedent.
- Traditional, unwritten law based on English custom.
- Condemnation — Definition,
- The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use.