How To Acquire Abandoned Properties?

We all are familiar with the phrase “finders, keepers; losers, weepers.” We often consider it as playground taunt, but as far as abandoned property laws are considered, it is a fair statement. Many people have still doubts regarding the claim of abandoned real estate and other properties. Keep on reading the article to find out how to acquire the abandoned property.

How To Acquire Abandoned Real Estate?

The first step in acquiring an abandoned real estate is making sure that it is an abandoned one. This is the case with any real estate, not just the Israeli real estate. The house may look vacant or run-down but it might not necessarily mean that it is abandoned or unclaimed. Actually, a real estate is never abandoned because the name of the property owner will be there on the deed of the property. Most often, the owner does not want to sell the property because selling might create more hassle.

You have to find out the owner of the property by talking to the neighbors or checking the property tax records. You can also find out the property owner by looking up the deed of the real estate in the recorder’s office. If you can find the property owner, contact him/her and enquire about the status of the property. If the owner is ready to sell the real estate, make an offer. If you cannot find the owner of the property, you can attempt to claim the property but it is often considered a risky move.

How To Acquire Abandoned Vehicles?

Acquiring abandoned vehicles is easier than acquiring abandoned real estate. If you have noticed an abandoned vehicle, make sure that it is abandoned before trying to acquire it. If the vehicle is damaged or missing any parts, most probably it is abandoned. You can contact the local law enforcement to report an abandoned vehicle.

Try to contact the vehicle owner, if you have his/her contact information, and try to make things work before the time for reclaiming the vehicle runs out. Sometimes the local authority will take ownership of the abandoned vehicle and sell it in an auction.

How To Acquire Abandoned Personal Properties?

You can even acquire abandoned personal properties if you find it in the street or a coffee shop. However, you have to make sure that it is abandoned before trying to claim it. Generally, the building or landowner has a better claim to the abandoned personal property than the person who finds it. If the true owner of the abandoned personal property does not show up for a certain period of time, you can claim it.

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