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Proposed Bill Affects Landlords in Recovering Property Against “Squatters”

Several years ago I wrote a post about a proposed bill affecting Landlords.

The Bill affected the time frame which a property owner could bring an action to recover property; most importantly, it affected the statute of limitations for a claim of “adverse possession” or “squatters rights” by a holdover tenant.

 

Here’s the scenario:

Investor purchases at foreclosure. Investor finds out the Property is being occupied. Redemption period expires. Investor files suit to gain possession of the Property.  “occupant” counter-sues – and claims “I own this Property by adverse possession”.

 

The prior bill provided that the statute of limitations period does not apply to a person if an adverse party is asserting a claim to the property based upon adverse possession.

That bill went nowhere.

 

House Bill 5546 was introduced a few weeks ago and referred to the judiciary committee.

The Bill would extend the period which a “squatter” or “holdover tenant” would need to prove title by adverse possession from 15 years to 30 years.

This makes sense for Landlords: what if you purchase real estate at foreclosure sale, attempt to remove a tenant and find out they have a claim to adverse possession?

The statute would make it harder for a hold-over tenant to prove they had a lawful right to the Property.

 

www.dwlawpc.com

e-mail: Jeshua@dwlawpc.com

Twitter: @JeshuaTLauka

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