Posted on: 07th May, 2014 02:17 pm
In California, what happens to the mortgage that is tied to a piece of property after adverse possession happens? Is the new owner liable for the remainder of the mortgage or liens on the property?
In case of adverse possession, the non owner resident have to occupy the property at least for 5 yr's & pay all the taxes before claiming the property as owner. After that he must proceed to quit title action against all person in interest on that property including the lender. If he skipped the lender then the new owner would be liable for the lien & future judgement if any.