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Author Question: What is adverse possession? What will be an ideal response? ... (Read 65 times)

Jkov05

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on: Aug 3, 2018
What is adverse possession?
 
  What will be an ideal response?

Question 2

What is fair compensation? How does it differ from fair market value?
 
  What will be an ideal response?


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meryzewe

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Reply #1 on: Aug 3, 2018
Answer to Question 1

Adverse possession is an involuntary taking of ownership of another's land without a deed. It is granted after a court proceeding which confirms the transfer based on use by another party that is adverse to the interests of the owner for a statutorily required period of time.

Answer to Question 2

Fair market value represents what a willing buyer will pay a willing seller in an arm's length transaction. Just compensation includes fair market value plus compensation for additional losses related to being forced to relocate.


Jkov05

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Reply 2 on: Aug 3, 2018
Thanks for the timely response, appreciate it

31809pancho

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Reply 3 on: Yesterday
:D TYSM

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