Adverse Possession from a Bank??? Michigan

[ladybugx]

What is the name of your state? Michigan

I was wondering if a property was neglected due to foreclosure, and the title was held by a bank or other organization. Does Adverse Possession apply to someone moving in and developing the property?

Can you find out who has the title to the property/home?

If a home has been abandoned by an owner and is listed for sale with a realtor and goes a long period of time without occupation, can adverse possession apply?

I see so many farms and homes going to waste here in Michigan it truly is sinfull!

 

[FlyingRon]

Being vacant has nothing whatsoever to do with adverse possession.

Adverse possession requires open, notorious, and hostile use of a property for a long time. You're not going to squat on foreclosed property and suddenly own it.

 

[ladybugx]

I understand that you won't 'suddenly own' foreclosed property. But a property being held by a bank does not exempt it from laws governing adverse possession?

Considering there are so many out there, I was beginning to wonder why people don't take advantage of that situation. There are many farms going to waste in my area, land that could be better used for crops or hay, considering the shortage that occured last year!

It is only my opinion, and I was curious about the laws after reading an article on it.

 

[seniorjudge]

GENERALLY, trespassing never amounts to adverse possession.

You must start the possession with some claim of color.

Google is your friend.

 

[ladybugx]

Ok,

so your claim of color could be your developing the land for agricultural purposes, livestock or other?

So by habiting one of these vacant farms and putting the land back to use, would that amount to adverse possession?

On the other hand, is there a way of finding out if the property/land is zoned for development in the future with a company or organization, unused personal property, or in the possession of a bank or other authority due to forclosure?

I am concerned myself, having some excess acerage that is not attatched to the home but borders some vacant lots, on which I only run horses for a few weeks of the year.

Thank you for the insight.

 

[justalayman]

color of title:

The appearance of a legally enforceable right of possession or ownership. A written instrument that purports to transfer ownership of property but, due to some defect, does not have that effect. A document purporting to pass title to land, such as a deed that is defective due to a lack of title in the grantor, passes only color of title to the grantee.

so your claim of color could be your developing the land for agricultural purposes, livestock or other?

No.

 

[divgradcurl]

Color of title is not required in Michigan for adverse possession, but without color of title, the statutory period is much longer. See Michigan CLA §600.5801.

Who owns the house -- the bank, or someone else, is irrelevant. If you move in, and live there like you own the place for 15 years, you can file a quiet title action to obtain ownership via adverse possession. 15 years is a long time -- good luck.

 

[nextwife]

Geesh. If you want a house, there are bargains galore. BUY one.

Bank owned properties continue to get "charged down" and the price reduced until the non performing bank asset is sold. While it may appear that nothing is happening with it, the bank will be marketing the property and reducing the listing price until it is gone. You will NOT accomplish anything but spinning your wheels with this plan.

 

[ladybugx]

Thank you for the info, it is much appreciated.