The IRAC Method - Issue - Identify and state the legal issue presented by the fact scenario. (1-2 sentences) - Rule - State/define the legal principle that applies to the issue. - Analysis - Discuss how the legal principle relates to the fact scenario. This should be the most lengthy portion of your answer. - State your conclusion based on your analysis. (1-2 sentences) 1. Adverse Possession Twenty-two years ago, Lorenz was a wanderer. At that time, he decided to settle down on an unoccupied, three-acre parcel of land that he did not own. People in the area told him that they had no idea who owned the property. Lorenz built a house on the land, got married, and raised three children while living there. He fenced in the land, installed a gate with a sign above it that read "Lorenz's Homestead," and removed trespassers. Lorenz is now confronted by Joe Reese, who has a deed in his name as owner of the property. Reese, claiming ownership of the land, orders Lorenz and his family off the property. Applying the IRAC method, discuss who has the better "title" to the property