Squaters rights in VA in relation to foreclosed, vacant property.
Question Details: With a growing number of vacant foreclosed properties and many of which have no one claiming ownership, can someone take up residence and claim rigts to the proeprty? Does Virginia have squatters rights?
What you are referring here is to something in the law known as "Adverse Possession". There are several requirements including a time requirement. In Virginia, the duration of such possession is 15 years. Virginia Code §8.01-236.
Within that time, the lender will have certainly sold off any of its foreclosed properties - even in this market.
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