Posted by Tim Fierro (Tacoma, WA) on May 13, 2002 at 12:26:12:
Yep, for WA State, there is a provision for 7 years also for non-forest land; which should cover most lands. My books were printed in 1997 and it looks like some of the state laws were changed in 1998.
Thanks for the heads up.
Free realestate - Posted by Patricia
Posted by Patricia on May 12, 2002 at 09:29:25:
has anyone tried this link http://cashflowinstitute.com/freerealestate
Or used something like it. Is this guy for real? Is there a law like he says there is to get free realestate?
PS… - Posted by David Krulac
Posted by David Krulac on May 12, 2002 at 19:09:58:
if you do order the 67 page book, please report back here on the sucess, or lack thereof from the book.
In CA the adverse possesion period is only 5 years, which certainly helps the process along. i just find it hard to wait 20 years and 11 months and do everything perfect including paying the real estate taxes all those years, then have somebody come in at the 11th hours and say thanks for taking care of my property for the last 20 years and 11 months, see you around.
David Krulac
Central Pennsylvania
Its not FREE! realestate - Posted by David Krulac
Posted by David Krulac on May 12, 2002 at 14:32:18:
the law varies from state to state and the time period is 5 to 30 years. My state is 21 years. Your possession must be hostile, open and exclusive. If its a vacnt lot you must fence it in and keep everybody else off to maintain your exlcusive use. If somebody else can use it you lost your eclsuivity and your right to the property.
In all likelihood to sell and for the buyer to get title insurance, you will need a quiet title action. If uncontested and simple, not too many parties to notify and you don’t need to notify by publication, you can probably get a quiet title suit for less than $1,000 and it can be done in 6 months. However, if contested and complex you could spent $20,000+ and 10 years just trying to clear the title. So I’m not sure where the FREE part comes in to play?
There have been discussions here before, you might want to check the archives for “adverse possession.”
David Krulac
Central Pennsylvania
Re: Free realestate - Posted by Brent_IL
Posted by Brent_IL on May 12, 2002 at 11:43:00:
The laws governing the laws of adverse possession are real and vary from state-to-state. In general, you have to occupy the property in a manner obviously against the owner?s interest in full public view for a number of years. You also must pay the taxes due or accumulated. In Illinois, it takes 20 years to establish a claim of adverse possession. If the property owner walks up in the nineteenth year, on the 364th day, and in front of a witness says, “Hey, you. Get off of my property,” you’d have to start the time period over.
This is O.K. to use if abandoned property abuts your property line. It might be worth a fence. It’s hard to build net worth this way.
I don’t know if the guy is real or not. I see no reason why he shouldn’t be able to deliver the freely available public information he’s promised.
Re: Its not FREE! realestate - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on May 12, 2002 at 19:52:52:
David Krulac–PA--------------------
I think you’ve given fine information here. Succinct and accurate.
However, I think that the adverse possession idea probably has the most power when it is coupled with long-term rental holding. One would not have to do a quiet title action for many years. And, at least in CA, one’s renters holding possession are acting on one’s behalf. And I can’t imagine a renter saying “show me your deed before I move in.”
So, take over a vacant improved property–after careful research for owners and heirs–then clean it up, put in renters and start collecting rents. After a while, you have enough rents to pay the property taxes. Could work pretty well here in CA where property taxes can be delinquent up to 5 years before the tax sale threatens.
Good Inveting and Keep Selling Those Central PA LotsRon Starr*********
Actually . . . - Posted by JoeKaiser
Posted by JoeKaiser on May 12, 2002 at 13:38:24:
What he’d have to say to kill the adverse possession claim is more like, “Hey Buddy, it’s okay to use my property.”
“Get off” would only validate the “adverse” nature of the claim.
Even still, it’s never going to be “Free.” Like Brent said, it takes years, payment of taxes (in my state), color of title (in my state), and ultimately, a lawsuit to quiet title.
I’m sure it’s doable in extremely rare circumstances, but I doubt you could make a living at it.
Joe
Re: Free realestate - Posted by Patricia
Posted by Patricia on May 12, 2002 at 13:36:19:
yea but its not free. you pay about 40 bucks to get the information on how to get free property.
agreed… - Posted by David Krulac
Posted by David Krulac on May 13, 2002 at 09:49:19:
in CA. the tax sale is 5 years delinquent and the adverse possession is 5 years. Nice dovetailing!
However in other states like Pa. the delinquency is 2 years and the adverse possession is 21 years. Conceivably you could take over a rental but the 21 years and having to pay the taxes after the 2nd year make it a more risky proposition than CA. There’s one state where the adverse possession is 30 years, now that’s long term planning.
I know some people who sell property with unclear titles, albeit at deep discounts. this could also be applied to adverse possession. The longer that you’ve adverse possessed the house the less chance of somebody appearing out of the wood work. If somebody is willing to buy your property even though you don’t have a deed, hopefully the sbuyer knwo what he is doing.
A friend of mine has property bought in the 70s that don’t have clear titles. He has been renting them all these years, and as you assert tennats never ask to see the deed. However, my friend now wants to sell and is doing a Quiet Title Action using the adverse possession as one of the basis for the suit.
good inveting to you too, what ever that is?
David Krulac
Central Pennsylvania
Re: Actually . . . - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on May 12, 2002 at 23:23:10:
My favorite for Washington State is #2.
Conditions for adverse possession;
Washington State is 10 years.
Re: Actually . . . - Posted by Ronald * Starr (in No CA)
Posted by Ronald * Starr (in No CA) on May 12, 2002 at 19:46:50:
Joe Kaiser–(WA)------------
Does that mean that your “abandoned properties” educational material does not discuss the issue?
I have never done an adverse possession, successfully. And my take on it is the same as yours: rarely could be done. But, it is sure is attractive “Free Properties.”
Good InvestingRon Starr***
Only from him. Free from state. NTXT - Posted by Brent_IL
Posted by Brent_IL on May 12, 2002 at 15:37:33:
nt
Re: Actually . . . - Posted by JoeKaiser
Posted by JoeKaiser on May 13, 2002 at 01:53:34:
Check that time period again.
Joe
Re: Actually . . . - Posted by Julius Levai
Posted by Julius Levai on May 12, 2002 at 23:57:21:
Ron ! According to John Beck (some time ago seminar) some guy(s) ended up in jail for some miss-handeling (abusing) the system. So if anyone wants to take advantage of this idea, be sure that you follow the law to the last dot. J.L.