What are the legal ramifications of squatting?

Question Details: There is an abandoned property in our neighborhood that is owned by the bank. They haven't paid taxes in the last year our town doesn't do tax liens certificates and no one is maintaining the property. My son is currently considering cleaning it up, paying the back taxes and squatting in it. What could legally happen to him if the bank suddenly realizes they have the property. Can he go to jail? Will he be fined? Would he have any right to reimbursement for fixing it up? Is there anything we can do about the property without the banks help?

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