Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

Adverse Possession

Synonyms:ownership, rights, squatter's rights, use it or lose it, usurpation
Filed Under: legal-contracts, real-estate
Tags: contract, legal, realty

Definition of adverse possession

adverse possession
1. Also known as "squatter's rights." This refers to a person or persons getting title to a piece of property or land by simply using it without any objection from the legal title holder. Where the law permits, anyone one who uses land for 10 years or more openly as if they owned it, will be granted ownership of it.

Related Terms and Acronyms:

  • adverse use   Use of someone's property without permission.
  • aviation easement   An agreement that grants the right to fly airplanes over property, even if the practice causes damage, inconvenience, or loss of property value. Such an agreement usually restricts the property owner from building or growing anything over a specified height.
  • common law (CL)   Traditional, unwritten law based on English custom.
      ➥  Laws developed by judges through court decisions and precedent.
  • common law marriage (CLM)   To be recognized as being married without foregoing a matrimonial ceremony.
  • condemnation   The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use.
  • easement   Giving persons other than the owner access to or over a property.
  • possession   Something that is owned.
  • title   Evidence of a person's right to possession ownership of a property.

Search the Glossary

The Greatest Mortgage Calculator
Rejoice! For the greatest mortgage calculator is finally here! Experiment with different mortgage rates, terms, amortizations and payment schedules or compare two different mortgages with automatically generated charts and graphs.
Greatest Mortgage Calculator
Mortgage Rates
Ready access to and relationships with a vast array of lenders gives our brokers the unique ability to offer you amazing mortgage rates and flexible products.
Mortgage Rates
Shop for the Best Mortgage Rates
We do our best to find the best mortgage rates in Canada. But if you do find better rates elsewhere, please let us know.
Find the Best Rates