Business / Real Estate / Adverse Possession: The acquiring of title to real property owned by someone else by means of open, notorious, hostile and continuous possession for a statutory period of time. The burden to prove title is on the possessor, who must show that four conditions were met: 1. He or she has been in possession under a claim of right. 2. He or she was in actual, open and notorious possession of the premises so as to constitute reasonable notice to the record owner. 3. Possession was both exclusive and hostile to the title of the owner (that is, without the owners permission and evidencing an intention to maintain the claim of ownership against all who may contest it). 4. Possession was uninterrupted and continuous for at least the prescriptive period stipulated by state law.
Possession Verb Synonyms: ownership, title, proprietorship, control, hold, tenure, keeping, care, custody, guardianship, protection
Possession Adjective Synonyms: holding, territory, province, dominion, colony, protectorate
Business / Debt / Personal Possessions: The personal possessions of a deceased person which pass to the beneficiary or beneficiaries of the residue of estate unless otherwise stated in the will. MORE