What is abandoned property?

In most states, abandoned property is real estate that includes any house or building that’s been unoccupied for at least 1 year. However, it also includes any property that the owners forfeited their rights to and that remains unoccupied.

What does abandonment mean in real estate?

In real estate, abandonment, also known as dereliction, can refer to various things. The concept of abandonment means that an owner or lessee voluntarily relinquishes or surrenders their property right. Still, there’s a catch. The owner in question cannot abandon their property in favor of someone else, namely a successor as proprietor or tenant.

What happens if a tenant abandons a property in Florida?

Remedies for Property Abandonment When property abandonment occurs in Florida, there are laws that govern how landlords can take action, including how they should handle abandoned property. Abandonment is considered a breach or early termination of the lease agreement on the part of the tenant.