Thinking about the ramifications of the situation is exhausting:
While the state is leading us to believe that they have always owned the land; the town, by taxing us, has determined that the taxpayers own the land. Looks like the town is going to get dragged into this mess.
The market value of my house across the street is largely based on having an associated deeded waterfront property across the street. Without waterfront, I would venture that the house property is worth half of its current value, I no longer own waterfront, and I have to pay rent to the state for water access. Well, looks like I'll be working a few years longer than we were planning.
I no longer have a mortgage on either the waterfront property or on the house (across the street), so I have no recourse with title insurance. I hope my neighbors have a mortgage w/ appropriate insurance.
I have a headache, the wife is crying, and the kids are not old enough to understand. Its been a bad week.
Jim
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