What is the name of your state (only U.S. law)? KY We have been involved in an adverse possession suit filed by a neighbor. Our survey showed their garage to be partially on our property. We are considering selling them the portion of our yard that is being fought over. My question is: Will our mortgage company let us sell this piece (about 16'X128')and would we get the money or be required to pay it on our mortgage? Our mortgage company was named as a defendant in the suit also. As of right now, the suit has been dismissed but the neighbor is implying "sell or get sued again".
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selling a portion of our yard
- Thread starter heeger72
- Start date
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What is the name of your state (only U.S. law)? KY We have been involved in an adverse possession suit filed by a neighbor. Our survey showed their garage to be partially on our property. We are considering selling them the portion of our yard that is being fought over. My question is: Will our mortgage company let us sell this piece (about 16'X128')and would we get the money or be required to pay it on our mortgage? Our mortgage company was named as a defendant in the suit also. As of right now, the suit has been dismissed but the neighbor is implying "sell or get sued again".
**A: it depends on the mortgage company. If it is a sliver of land, chances are the mortgage company will release the mortgage from that subdivided part of the whole.
tranquility
Senior Member
I agree with the previous posters, but wonder why the suit was "dismissed". Especially with a lien attached for the mortgage, it sure would complicate the case for the neighbors. At least it might help your eventual bargaining position.
I agree with the previous posters, but wonder why the suit was "dismissed". Especially with a lien attached for the mortgage, it sure would complicate the case for the neighbors. At least it might help your eventual bargaining position.
**A: it could be that the statutory requirements of the AP were not met such as notorious use.
tranquility
Senior Member
That's what I'm thinking, that some part of the statute has not been complied with. If so, the first step might be to give a revocable permission to the garage to be there.
That's what I'm thinking, that some part of the statute has not been complied with. If so, the first step might be to give a revocable permission to the garage to be there.
**A: an encroachment agreement would be good.
Thanks for the advice everyone! Regarding the AP, the neighbor did not know where the property line was until we had our survey done, although they already lived there when we bought our place. Their surveyor and 1st attorney told them they did not have a case but they found another attorney willing to take it. From the beginning, we said the garage could stay there, we got sued in return with them trying to steal what is legally ours. Although we despise these people, we want to get the matter settled so we can sell our property and get out of dodge so we don't live next to them anymore.
Thanks for the advice everyone! Regarding the AP, the neighbor did not know where the property line was until we had our survey done, although they already lived there when we bought our place. Their surveyor and 1st attorney told them they did not have a case but they found another attorney willing to take it. From the beginning, we said the garage could stay there, we got sued in return with them trying to steal what is legally ours. Although we despise these people, we want to get the matter settled so we can sell our property and get out of dodge so we don't live next to them anymore.
**A: ok, thanks for the info although it does not change what we already posted.
tranquility
Senior Member
Give written permission. See an attorney.
Give written permission. See an attorney.
**A: once agreed by the parties, any future owner will be barred from making an adverse possession claim in the future.