Hello, (Bit of Background first)
Background: In August 2020 I closed on 30 vacant acres of land in Upstate NY. Before closing on the property I had a title search done (which came back clear) and I also acquired title insurance. The 30 acres in the past had been surveyed and it came out to 30 acres and the title also listed 30 acres.
The Problem: For the past few months I have been at the property clearing with the idea of in the future building a house on the property. Last week the neighbor showed up and is claiming that 20 of the 30 acres I purchased is his and he has been paying taxes on those 20 acres for many years. He stated that he is in the process of doing a title search now to find his title for the 20 acres. I might add this neighbor had no relation to the previous owner. So as you might understand I'm a bit confused...being that I have a title for 30 acres, a recent survey for the 30 acres, a recent title search that came back clear and the town tax map shows my parcel is for 30 acres. I have a few questions below regarding this situation. Also I get that this guy really does not have a leg to stand on as far as owning the land however it gave me quite the jolt and I am trying to do my research in case anything does arise.
1) Is there the possibility of having 2 titles for the same piece of property, and would the title search have shown this
-I assume it would have since that is the point of a title search but I would like to clarify.
2) The way my title is written it shows 20 acres as a parcel and 10 acres as a parcel (this is on the same title) I have been told it was most likely due to the parcel being purchased at different times. Has this been seen on other titles?
3) Hypothetically if this neighbor ever did find a title for the 20 acres how would that play out with the title insurance? I know this is primarily based on the title insurance policy but how does this typically play out?
4) As I stated I plan on building a house on the property. What would happen if I built a house and something with the neighbors title was found in say 5 years after the house was built? I feel as if an accurate survey is enough to procure a construction loan it should protect the house but not really sure.
5) Lastly what can I do to put this to rest and show the neighbor all 30 acres is mine?
TLDR: Ran into the neighbor of recently purchased land, land title questions/hypotheticals.
Any help would be greatly appreciated this was the shock of a lifetime and all I can say is if the something does happen the title insurance was more than worth it !
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source https://www.reddit.com/r/RealEstate/comments/jl7wsw/newly_purchased_land_question_neighbor_is_saying/
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