This has been all over the news lately, but if you have not heard the story, a man from Texas used his noodle to claim stake to a foreclosed home. The Texas man cited the law of "adverse possession" to lay claim to the property. Adverse possession is written to say, the owner of the property is no longer living here, (I) will occupy it for X period of time, and if the true owner does not fight the adverse possession within that time frame, then the 'squatter' will gain title of the property. You may be thinking it is unfair and illegal, but the main point behind adverse possession is the idea that the real estate is valuable and the government wants every piece of land to go to the 'highest and best use' of the property. In this case the home was empty, a man said, "I will live there and maintain the home". Because of this the government will not have to spend time and money to continue the foreclosure process and secondly in 3 years (the time the squatter receives title) will be paying property tax, both parties win.
For the entire article read HERE
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