Rochford Resources Blog

What is Adverse Possession?

In the simplest of terms, adverse possession is a legal concept allowing individuals to acquire the title to a piece of land that they do not own because they have openly trespassed, inhabited, possessed, or used the property for an extended period of time. In Tennessee, neighbors or adjoining landowners can wind up in court over imprecise descriptions in deeds; fences that have marked boundaries for years, but are misplaced; outbuildings that straddle property lines; community gardens that have taken root on “vacant” lots; or deed overlaps where there’s not enough land to fulfill the descriptions for two adjoining parcels.

HPR stands for Horizontal Property Regime. In case you missed our last article on HPRs, we’ll fill you in before continuing onwards.

A Horizontal Property Regime is a legal way to divide a single property into two different properties, which is something that comes into play quite often in cities like Nashville. With Nashville’s economic boom, it has been estimated that as many as 100 people move here every single day.

Working in the field of real estate law, much of what we do is preventative. To people who are careful, hire a real estate lawyer, and get everything right the first time around, the dangers involved in real estate transactions might feel very abstract. Make no mistake: the dangers are very real.

A first glance, real estate law might seem like a very specific niche in the legal world. Well, it shouldn’t take much exploration to begin to understand just how much is encompassed by the term “real estate law.” Indeed, real estate law is a world unto itself, and one that often must be extended to include adjacent areas of practice. Indeed, real estate lawyers are forced to wear many hats!

Today we’ll be talking about one such instance of real estate law overlapping with other fields of practice. We often handle matters that blur lines between different areas of law, and the following matter is a perfect example of this.

Today we’re going to circle back to revisit topics that we’ve talked about in the past, and give you some insight into how these issues can play out in real life.

We’ve published articles talking about the intricacies of deeds. We explained the differences between different types of deeds, as well as the practical implications of those differences. We’ve also spent time talking about how title insurance works, and why you need it. Now, it’s time to bring all 3 of these discussions together, and examine how these dynamics can play out in real life. The following is a real scenario that we’ve had to dealt with in the past…

If you own a house, the fundamental piece of evidence that proves your ownership to the rest of the world is the deed to that house, also called a ‘title.’ Deeds come in the form of legal documents, but not all deeds are created equal. There are different types of deeds, each with its own unique set of implications.

So you’ve toured the builder’s flawless and fully-furnished model home and you’re in love. Buying a newly-constructed home is an exciting and optimistic time, but before rushing headlong into an agreement you may regret, there are a few things you should know before signing on the dotted line.

Nashville real estate attorney, John Rochford notes, “I often get calls from people who are in the process of buying a new home and who have some reservations about the contract their builder has presented to them. Needless to say, their instincts are often correct and the contract is totally one-sided. I help buyers examine their contract and negotiate the best terms for their new home.”

It’s never too late to begin planning for retirement, and it’s never too soon to diversify. Many investors don’t realize they can take the helm of their retirement ship with a self-directed Individual Retirement Account (IRA). According to a study recently published by The Entrust Group, “Real Estate Investor Market: 2015 Trends in Real Estate IRA Investments Research Report,” individual investors throughout the country are giving a boost to the economy while planning for the future. Working with a real estate attorney can help you clear the way for a smooth sail into retirement by making the best decisions regarding a self-directed IRA.

Despite discouraging May numbers, both housing starts and building permits were on the rise throughout the United States in June, which indicates the demand for housing is holding steady as we rocket towards the final quarter of 2016. Housing starts rose 4.8% and applications for new building permits rose 1.5% in June. According to the U.S. Department of Housing and Urban Development’s August joint press release, housing starts increased yet again in July, while permits held steady.

Seeking protection, security, and stability for our loved ones is paramount. While it’s hard to think in terms of “worst case scenarios,” in some instances, provisions pertaining to real estate may be a great way to ensure peace of mind and pave the path for our loved ones. However, when it comes to adding minors to property titles, it’s important to understand what, exactly, that means and what the future repercussions may be. Working with a real estate attorney to better understand the implications of minor real estate ownership, including void and voidable contracts is highly advisable.