Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?
One thing to keep in mind is that in the US, there’s very few people or companies that actually own the land that they’re on. Most of the time you have the rights to use the land for certain types of things, but not actually own it. The US government (federal on down) has various ways of seizing property for its own purposes.
There’s only a handful of people who actually own the land they live on. Most of them were granted the land by prior governments (mostly Spain) before the US was a country. Their ownership was grandfathered in and has passed via inheritance through the families. Several of those family plots are in Texas and Florida. Everyone else is just allowed to stay as long as they play ball with the rules.
Do you have more info on those that actually own? Sounds interesting.
To certain extents, I think the government has rights of expropriation of land in other countries too. Sometimes you can sue the government for it too. It’s a messy biz.
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Yes.