Eight years ago I entered into a lease option agreement to purchase a 12 acre vacant property from a relative. Since that time I have been paying all costs and fees associated with the land. Payments are made to a small finance company who I believe holds title to the company. Recently my cousin, former owner has started to build a small structure on the land with no plumbing or electricity. Although it is only partially completed he has moved onto the property. He was the original buyer and was unable to continue payments. He was losing the property because of back payments and taxes owed. I brought all payments current and continue to pay to now. He has decided he wants to ignore the agreement and didn't want to sign any papers to transfer ownership. My question is this: What are my rights. Will this effect my option to purchase the land. Does my cousin have squatters rights?
You need to see a lawyer and take all your documents with you.
If the facts support it, you may have a case for specific performance under the lease option.
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It is doubtful that there are any squatter's rights, more correctly called title by limitations. You need to see a real estate attorney with all of your documents. Depending on where the property is located, yur cousin may not be able to live on the property with plumbing or electricity. You really should know who has title to the property. You can find that out from tax or deed records. What does it say on the tax statements?
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