What is "adverse possession" in real estate?

Adverse possession is a legal doctrine that allows a person to claim ownership of land if they meet specific criteria established by law. To successfully claim adverse possession, the individual must typically demonstrate that they have possessed the property continuously, openly, and exclusively without the permission of the original owner for a necessary duration, which varies by jurisdiction. This doctrine is designed to promote the efficient use of land and to resolve disputes over property rights by recognizing claims of individuals who have treated the property as their own for a significant period.

This concept is fundamentally different from the other options. The process of transferring property through a will relates to estate planning rather than possession or property rights. Foreclosure is a legal process through which a lender takes control of a property when a borrower fails to meet their mortgage obligations, focusing on ownership transfer due to default rather than claims by possession. A property appraisal is an assessment of a property's value, which does not involve ownership claims but rather determines a market value for buying, selling, or financing. Thus, the correct answer encapsulates the essence of adverse possession within real estate law.