AN ACT TO MODIFY THE PROCESS FOR ACQUIRING TITLE TO LANDS USING ADVERSE POSSESSION.
Amends GS 1-40, extending the period required before a person acquires title in fee of real property by adverse possession from 20 to 30 years. Adds new requirements of a person acquiring title in fee to real property by adverse possession, including paying the previous owner (1) the fair market value of the property at the time of acquisition and (2) reimbursement for all property taxes incurred for the 30 years the property was adversely possessed. Adds a new limitation prohibiting a title transfer by adverse possession if the property being adversely possessed is entirely within one foot of the recorded boundary of the property.
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