I have a question about my parents property. My parents have lived in their home since August of 1974; now the area is going industrial and all the homes are being bought out by developers. Our parents had their property surveyed in 1990 and it turns out that some of the land which they thought they owned isn't their property. And not only is some of the land not theirs it seems that about 10 feet of their house also sits on this property. As I stated my parents have lived in this house since August 1974 and no one has ever come around claiming to own the patch of land. My parents researched this piece of land and it was sold in 1997. But as I've already stated in the 31 plus years that my parents have lived there no one has ever come around to claim that piece of land. The previous owners had put up a fence around that land as well as the house. My parents have maintained that piece of land as well as a piece in their backyard which according to the surveyor belongs to both my parents and another person who hasn't been around since about 1991.
How can my parents handle this situation as there are people who want to buy their property...but have asked my parents to take money out of their pockets and pay for the pieces of land in question. I would think that if my parents pay someone for these 2 pieces of land, then they have bought that land and it would then become my parents land to sell...am I correct?
Thanks for any info which you can provide.
Manuel (from Florida)