How does “vacant possesion” laws work?
What paerwk & red-tape is involved to legally take possesion of land? & costs involved?
Also,if owners have been using land for well over
50yrs,is that right automatically handed over to each new owner?
Anyone with experience with this?[confused2]My understanding of vacant possession is where you are buying a property and there is currently a tenant in there.
As there is no lease on settlement you can take the property, if you wish, with vacant possession.
ie. the tenant has no lease and can be out of the place by settlement.Real estate agents like selling a place with vacant possession as it also attracts those who want the property as a ppor.
I might have the term incorrect then,but i thought when someone tries to claim land they have been using/ tending to,for over 15yrs,it can be claimed as theirs?But i am wondering what the legalities are to do so?[confused2]
I think you mean “squatters rights”
KP
Misty1,
I have a friend who has just gone thru the process of acquiring land on this premise. I will have a chat to them and let you know how they went about it.
Regards,
Boyler RoomDuckling Business & Investment Network
http://www.duckling.com.au
Why Walk When You Can Fly?thanx Boyler!
Oh yeh,it was very funny that as i was reading your quote “why walk when u can fly” our resident plover started going off-tap…was that a sign??Misty,
Have a read of the article “Don’t fence me in” in this month’s API magazine. WHile mainly involves land that changes overship due to fences etc being in the wrong place, it does touch on issue of obtaining land that has been used ie: for over 15 years. It also states some exceptions ie: crown land in certain states etc.
I don’t know your exact situation but the article might shed some light on whether you may be able to obtain the land through “posession” rights.
Regards
PK
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