Someone else can rightfully and legally claim ownership of land that you had purchased or land that had been in your family for generations! As unbelievable as this might sound, it does happen and has happened to people that we know and work with. Handshake agreements have been made allowing a long-time family friend, former employees or relatives to live on a parcel of land. After 10 years of one of these types of arrangements, the person who has been living on the land can acquire title through an “adverse possession judgement.”
Have you heard of squatter’s rights? It is important to be informed about land ownership in Alberta and to know how the rules could affect you. Click on this link to see it for your own eyes. Understanding this could potentially save you from losing your own interest in your land.