Off the coast of Hatteras, NC a new island appears. Who owns it?
http://wavy.com/2017/09/05/special-report-who-owns-shelly-island /"> https://www.google.com/amp/wavy.com/2017/09/05/special-report-who-owns-shelly-island/amp/#ampshare=http://wavy.com/2017/09/05/special-report-who-owns-shelly-island/
Until they begin assessing property taxes on it, I do. It will then be available for sale to anyone who will take my Quit Claim Deed.
The state? It came from waters of the state so it makes sense. Or else Fed government.
Sent from my SM-G955U using Tapatalk
Thirty years ago when FDIC suddenly became owner of many rural properties foreclosed upon by banks that then failed themselves due to the rapidly crashing agricultural economy I learned of the opposite situation. A farmer had owned and mortgaged an island in a fairly large river. A massive flood turned it into nothing but a low pile of mush fully underwater unless an extended drought were to come along. FDIC needed to sell the island that no longer existed. The FDIC real estate agent with whom I was dealing for other land told me that wonderful story. Sort of makes you wonder what the county appraiser/assessor did about that for property tax assessment.
The state owns islands that form in navigable waters.
