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CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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Bought a lot in a development area 27 years ago. Paid monthly

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Bought a lot in a development area 27 years ago. Paid monthly payments for about 3 years and the development company filed bankruptcy. I was never informed where to send the payments so it was left at that. I've been paying the taxes every year & I'm listed as the tax payer. Evidently a different developer bought out the bankruptcy and they are listed as the owner on the taxes. Now over this long period of time. Who has title over this property?
Dear Customer,

Thank you for choosing Just Answer. My name is XXXXX XXXXX I would like to assist you today.

While there is a difference between being the named title owner and the owner of the property in this instance (the new development company, or its successor in interest is probably the title owner, you would have to check chain of title with the County Recorder's office, or get a title report through a Title Insurance Company or Escrow Company), you are likely the owner of the property through "adverse possession" (Minnesota Statute 541.02 which provides that the person who pays taxes on the property for a period 15 years and holds the property adverse to the title owner is the owner of the property).

To establish yourself as owner of record, you must bring what is called a "quiet title action" meaning you must sue the new development company, or its successor (whoever holds the current deed) and argue before the court that you have a right to the deed to the property because you have held the property "openly and adversely to the interests of the title holder" and that you have held it for longer than the 15 year period required by statute (see above).

I hope the above is helpful in establishing your claim to the property. The length of your stay should make your claim fairly secure. If you have any questions please do not hesitate to ask and I will follow up promptly.

Thank you for choosing Just Answer, please do not forget to rate my answer so that I can receive credit for my service. I wish you the best of luck, and again, please do not hesitate to follow up.
CalAttorney2 and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 4 years ago.
I like the way you explained it. I had no idea where I stood and now know how to go further.
I am happy that my answer was of some assistance. Please let me know if you have any further questions.

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