A neighbor has been using a lot that is adjacent to them for a long period of time. They regulary mow thegrass and have had a garage and shed constructed on the lot. If the original owner decides to sell the lot, does the neighbor have any legal rights to the property?

A$.$ Yes, theneighbor is a squatter. If they use the property forthe statutory period, they may claim ownership by adverse possession.

B$.$ No$,$ squatters are never allowed to acquire property; they may only receive a prescriptiv easement.

C$.$ Yes, but only if the neighbor files with the clerk of court and pays fair market value for property.

D$.$ No$,$ the neighbor may not acquire the property because they never had the owner's permission to use the property.

Which of the following are essential elements of a contract to purchase real property?

A$.$ Earnest money

B$.$ Consideration

C$.$ Due diligence fee

D$.$ Recording prior to closing