A home for sale.

What you are talking about is the law of adverse possession. Every state has detailed requirements that must be fulfilled before you can be declared the owner of the property.

You have to live there for a minimum of 5 to 7 uninterrupted years, depending on the state. You have to live there without the owner's permission. You may have to pay the taxes. You have to prevent other people from using the property. It has to be obvious to the public that you are living there. And in some situations it may be required that you believe you have some kind of claim to the title.

Tell us where you're located and the type of property (farm, residential, etc.) and we'll tell you the specific requirements for your area.

And in some areas it is much more than 7 years it can be up to 20. Plus that only gives you the right to file in court to ask the court to give you ownership. The could can also not approve it.

The risk, you fix it up, you spend money on it, and then the owner finds out you are living there and calls the police for trespass. You are just kicked to the street and lose anything you invested into the property.