Adverse Possession
Recently it's been all over our local news media about the Puyallup, Washington homeowners (that were in the process of foreclosure) and found the locks on their home changed and a new family living in their home.
In this second installment of "The Title Perspective" we'd like to share some insights from our Sr. Title Officer, Tim Daniels, on Adverse Possession.
A few of us at The Talon Group, having been in the industry for a few years now, have heard many (as we fondly refer to as) 'The War Stories'. What's often missed in the public dialogue is
1. How much can go wrong when it comes to owning clear title to a piece of property, and
2. The perspective of the individuals that are often the greater part of the solution to these real estate issues.
I'm talking about title officers.
They don't make this stuff up... A few, like Tim, have had years of experience dealing with every possible aspect of real property issues and because of that they've gotten very involved with the owners, sellers, builders, buyers, local government, real estate agents, lenders, attorneys, developers, judges and courts. After all, that's what they do... They help facilitate solutions.
In times like now it's becoming rare that title companies have a local expert like Tim. That's what sets us apart from our competitors.
This is not legal advise. Tim is simply sharing what some of the issues the owners, buyers, and the bank might face as this situation unfolds from the perspective of one who gets involved and tries to help manage a solution.
If you missed the media coverage on the recent Puyallup Adverse Possession story... here's a few links...
Puyallup couple says squatters trying to take over their home
Local Komo 4 News, Seattle...
The Home Equity Theft Reporter Cases & Articles
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