My question involves real estate located in the State of: Florida
My family came across a home in a nearby community that is listed for sale as REO / bank owned and decided to check it out. The yard has been mowed, so the bank is obviously keeping it up. There is no fence surrounding the property, nor are any signs posted, except for the one from the realtor. The back doors were unlocked and we easily gained entry to inside the home to inspect it. It is completely empty.
My question is, if my family was to move in and occupy the home under Adverse Possession law, and to pay the taxes, improve the property and maintain the grounds, what are the risks involved? Would it be considered a criminal offense? If the bank were decide to evict us, would we receive prior notice or could they simply change the locks while we are away or have us arrested?
I understand the contemptuous views regarding these actions, and I'm not sure of it myself, but am willing to entertain the idea, especially if it means my family may affordably occupy such a home, even if only until I am out of school next year and finances aren't so rough.
I am seeking factual advice regarding adverse possession and any implications or risks that might be involved, not personal judgement. Any advice would be appreciated.