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The common law may apply many exceptions to the rule that the first finder of lost property has a superior claim of right over any other person except the previous owner. For example, a trespasser's claim to lost property which he finds while trespassing is generally inferior to the claim of the respective landowner. As a corollary to this ...
Unowned property includes tangible, physical things that are capable of being reduced to being property owned by a person but are not owned by anyone. Bona vacantia (Latin for "ownerless goods") is a legal concept associated with the unowned property, which exists in various jurisdictions, with a consequently varying application, but with origins mostly in English law.
The Homestead Acts legally recognized the concept of the homestead principle and distinguished it from squatting, since the law gave homesteaders a legal way to occupy "unclaimed" lands. President Abraham Lincoln signed the Homestead Act of 1862 , which was enacted to foster the reallocation of "unsettled" land in the West.
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.
For the fifth year in a row, the trees around the 2.5-acre lot where a historic Shorewood mansion once overlooked Lake Michigan have shed their leaves and regrown them on empty land.
A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction. Typically such a deed will not warrant that the property title is free and clear, and it remains up to the grantee to check that the property is not subject to any legal encumbrances. [11]