Hello all at LLZ!
Please consider me a bit of a newbie/numptie..... So excuse the silly question.
I've been using a bit of land for 12 years, and have been very thorough indeed trying to find the owners. I know who owns all the boundaries, and due to its layout, no one can get to it bar me.
So - I applied for adverse possession pretty much on my own. I have been awarded "Title Possessory" of the land, with me as the named proprietor.
what does this means in laymans terms?
- Do I "own" the land?
- Is it safely mine or can someone still come along and claim it?
- Can I build on it (STPP)?
- Can I sell it?
- do I need to sort out indemnity insurance incase someone comes along later?
also, as its next to my house and really part of my garden, if I sell it (if I can!) is it subject to CGT or as its my main home is it exempt?
Thank you very much for any advice!