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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Adverse Possession


Synonyms:ownership, rights, squatter's rights, use it or lose it, usurpation
Filed Under: legal-contracts, real-estate
Tags: contract, legal, realty
 

Definition of adverse possession

adverse possession
1. Also known as "squatter's rights." This refers to a person or persons getting title to a piece of property or land by simply using it without any objection from the legal title holder. Where the law permits, anyone one who uses land for 10 years or more openly as if they owned it, will be granted ownership of it.

Related Terms and Acronyms:

  • adverse use   Use of someone's property without permission.
  • aviation easement   An agreement that grants the right to fly airplanes over property, even if the practice causes damage, inconvenience, or loss of property value. Such an agreement usually restricts the property owner from building or growing anything over a specified height.
  • common law (CL)   Traditional, unwritten law based on English custom.
      ➥  Laws developed by judges through court decisions and precedent.
  • common law marriage (CLM)   To be recognized as being married without foregoing a matrimonial ceremony.
  • condemnation   The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use.
  • easement   Giving persons other than the owner access to or over a property.
  • possession   Something that is owned.
  • title   Evidence of a person's right to possession ownership of a property.

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