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re: Hypothetical Property Law in Louisiana...
Posted on 5/19/18 at 9:42 pm to Tiger Prawn
Posted on 5/19/18 at 9:42 pm to Tiger Prawn
No "adverse possession" law in Louisiana?
10 years in the 'Sip.
10 years in the 'Sip.
2
Posted on 5/19/18 at 10:15 pm to matthew25
quote:
No "adverse possession" law in Louisiana?
There is, but without knowing more it doesn't appear to be the case here.
A co-owner would basically need to give his other co-owner notice that he is now possessing the entire property as his own to begin "possessing adversly" and for the clock to start to run. Also he would need 30 years of possession. 10 year delay period is more stringent and requires good faith in LA.
Posted on 5/22/18 at 11:33 am to matthew25
quote:
No "adverse possession" law in Louisiana?
10 years in the 'Sip.
If Friend A is on the original Act of Sale, and Friend B knows that Friend A is on the original Act of Sale, then Friend B would have to adversely possess the property for 30 years for adverse acquisitive prescription to run, as Friend B would be in bad faith possession. Friend A would have a strong argument that he was merely allowing Friend B to precariously possess the property in exchange for Friend B making the monthly mortgage payment. Friend A is relieved of the burden of making the mortgage payment while Friend B enjoys living in the home.
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