Acquire Abandoned Property

Acquire Abandoned Property
You probably are familiar with the saying "Finders, keepers losers, weepers." Beyond a playground taunt, historically that also was a fair statement of abandoned property law: If you found abandoned property, you could claim it as your own.1 However, the law today is a bit more complicated, as many states have enacted legislation that alters the treatment of lost or abandoned property – particularly property such as real estate or motor vehicles in which the record owner can reasonably be discovered.
Acquiring Abandoned Real Estate Make sure its actually abandoned.
Just because a house is vacant or appears run-down doesnt necessarily mean its abandoned. The problem with taking control of an abandoned piece of real estate is that somebody does technically own it, even if they dont live in it or take care of it. Generally speaking, real estate can never be abandoned, because there will always be the name of an owner recorded on the deed for the property. But that doesnt mean that whoever owns it still wants to own it. In many cases, the owner decided selling the property was more hassle than it was worth.Find out who owns the property.
The easiest way to find out who owns the property is to check your countys property tax records. You can talk to neighbors or take other steps to find out who owns the property, but property tax records are the easiest way. If real estate exists, someone is paying taxes on it – or owes taxes on it – and the county tax assessor will have that persons name and contact information.Keep in mind its possible that the address the tax assessor has for the owner is the same as the address of the property you believe is abandoned.Another way to find the property owner is to look up the deed for the property in the county recorders office. If any liens such as mortgages are recorded on the deed, try contacting the bank or mortgage company instead of the individual listed as prope You probably are familiar with the saying "Finders, keepers losers, weepers." Beyond a playground taunt, historically that also was a fair statement of abandoned property law: If you found abandoned property, you could claim it as your own.1 However, the law today is a bit more complicated, as many states have enacted legislation that alters the treatment of lost or abandoned property – particularly property such as real estate or motor vehicles in which the record owner can reasonably be discovered.
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Expert Reviewer--/Special:ArticleReviewers?name=jennifermueller%2Cjdjennifermueller%2Cjd ---- Jennifer Mueller, JD
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-------------------------References---------------------
law.cornell.edu/wex/abandoned_property---law.cornell.edu/wex/abandoned_property

bankrate.com/finance/real-estate/not-easy-to-claim-abandoned-home-next-door.aspx---bankrate.com/finance/real-estate/not-easy-to-claim-abandoned-home-next-door.aspx

law.cornell.edu/wex/abandoned_property---law.cornel

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