What is the law on abandoned property in Kentucky?
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What is the law on abandoned property in Kentucky?
In Kentucky, property is generally presumed abandoned two to 15 years after a period of inactivity of the owner of the property. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming it from the state.
How long do you have to use land before it becomes yours?
Minimum time requirements – Before any adverse possession application can be considered you must have been using (or in possession of the land) for at least ten years. If the land is registered with someone else then the minimum time is extended to twelve years.
Can adverse possession be challenged?
After 10 years of ‘adversely possessing’ registered land, a party can apply to the Land Registry to be registered as the new owner in place of the existing one.
How much does an adverse possession claim cost?
What does it cost to make the application? Because adverse possession applications are usually quite complex it is almost always necessary to engage a solicitor experienced in this area. Solicitors’ costs will range from about $2,500 up to $10,000 for a more difficult application.
