May I move into empty bank owned property and live there claiming
Full Question:
Answer:
Adverse possession is the taking of title to real estate by possessing it for a certain period of time. Title means ownership of real estate. The person claiming title to real estate by adverse possession must have actual possession of it that is open, notorious, exclusive and adverse to the claims of other persons to the title. By its very nature, a claim of adverse possession is hostile to the claims of other persons. It cannot be hidden but must be open and notorious in order to put other persons on notice as to one’s claim for possession of the real estate.
A claim to title by adverse possession often must be made under color of title. Color of title means a claim to title by way of a fact which, although on its face appears to support a person’s claim to title, is in some way defective and falls short of actually establishing title to the real estate. An example of a claim made under color of title would be a deed whose execution was defective or is in question. Another example is a claim arising from another person’s Last Will and Testament. Yet another common example is where two or more persons have received separate deeds to the same parcel of real estate.
Black’s Law Dictionary, Fifth Edition.
In Colorado, the duration of such possession is seven (7) years if the claimant claims under color of title. If the claimant does not make his/her claim under color of title, the duration of possession is eighteen (18) years. Colorado Code §38-41-101, 108, 109.
On July 1, 2008 HB 2008-1148 was signed into law by Colorado Governor Ritter, and applies to all adverse possession cases following this date.
In addition to the current requirements, the following is also required:
"The person claiming adverse possession had a good faith belief that the person in possession of the property of the owner of record was the actual owner of the property and the belief was reasonable under the particular circumstances."
Also included in the law, judges will have the power to force adverse possessors to pay for the land they do win in court, and to compensate the original owners for back property taxes, and interest.
With the new law the burden of proof will lie with the possessor to prove they have evidence they were the actual owner which should reduce the number of cases appearing before the court. Unfortunately the new law was a little late to apply to the Boulder case.
A bank owned property is the asset of the bank, just as it is for any individual property owner.
It is possible that the bank could pursue criminal trespass charges against individuals who enter the property without permission.
According to Colorado State Law, landowner permission is required prior to entering or crossing private property, except while traveling on public roadways. Two sections of the Colorado Revised Statutes (CRS) apply to trespassing:
1) CRS 18-4-504 relates to "Third Degree Trespass", which constitutes either a petty offense, misdemeanor, or felony depending upon the classification of the property involved, and the circumstances of the trespass. This statute requires a Court Appearance. Upon conviction, fines can range from $50 to $750 and can include a sentence in county jail. (private property also does not necessarily have to be posted in order for trespass laws to be enforced)