Imagine the following scenario. You walk past a large, open tract of land and you see a couple of apartment complexes and office buildings sitting on it. At a glance, you can immediately tell that they’re at near capacity, and the landlords are obviously doing quite well. You start negotiating with one of the building owners to buy the building from him so that you can earn your investment back from future revenues … but the talks stall out, and you begin to make places on breaking ground to create a building of your own on this same general area of real estate.
As you’re in your planning and investment phases, you’re most likely keeping up with whatever your future neighbors/competitors are doing in the news. At one point, you pick up the newspaper and see that all of these building owners are being sued by the same person. Diving in to the details, you learn that this person claims to have proof that he is the rightful owner of a large parcel of land that includes and surrounds the area that these buildings sit upon. What’s more, the person behind the lawsuits is the very same individual that is also accusing you of trespassing on other parcels of land he claims to own on the other side of town.
Being faced with the likelihood that this same person will inevitably claim that the area staked out for your building also lies within his boundaries, what do you do? Do you cancel your construction crew? Do you call a surveyor and real estate attorney to investigate the title and boundaries of the land? Do you call up this alleged landowner and see if you can get more information about his claims, and see if a deal can be made?
Do you announce to 9.6 Billion people the grand opening of your new office complex?
- Google Sued Over Daily Deal Business Venture (gametimeip.com)