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Texas Man Claims Abandoned $330,000 Home For $16 Through Legal Quirk
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Texas Man Claims Abandoned $330,000 Home For $16 Through Legal Quirk - July 18, 2011, 01:38 PM

I wonder if DC, VA, or MD has any loopholes like this! Think how many homes have been sitting on the market for over a year.
I'm going to ping my lawyer and see if anything such as this exists in this region.


Quote:
Adverse possession is a principle of real estate law whereby somebody who possesses the land of another for an extended period of time may be able to claim legal title to that land. The exact elements of an adverse possession claim may be different in each state.
http://www.ksla.com/story/15090178/m...m-of-squatting

Quote:
Flower Mound, TX (WFAA/CNN) - Thanks to a little-known law in Texas, a man apparently won ownership of a house for less than $20, but neighbors aren't happy with his deal and are trying to get him out.

Flower Mound's Waterford Drive is lined with well-manicured, $300,000 homes.

So when a new neighbor moved in without the usual sale, mortgage-paying homeowners had a few questions.

"What paperwork is it and how is it legally binding if he doesn't legally own the house? He just squats there," neighbor Leigh Lowrie said.

Lowrie and her husband said the house down the street was in foreclosure for more than a year and the owner walked away.

Then, the mortgage company went out of business.

Apparently that opened the door for someone to take advantage of the situation, and that person was Kenneth Robinson who said he's not squatter.

He said he moved in on June 17th after months of research about a Texas law called "adverse possession."

"This is not a normal process, but it is not a process that is not known. It's just not known to everybody," he said.

Robinson said a piece of paper gives him rights to the house. It's an online form he printed out and filed at the Denton County Courthouse for $16.

It says the house is abandoned and he's claiming ownership.

"I went through and added some things here for my own protection," he said.

The house is virtually empty with just a few pieces of furniture and has no running water or electricity.

But, Robinson said, just by setting up camp in the living room, Texas law gives him exclusive negotiating rights with the original owner.

If the owner wants him out, he would have to pay off his massive mortgage debt and the bank would have to file a complicated lawsuit.

Robinson said he believes neither is likely.

So if he stays in the house, after three years he can ask the court for a title, which he said is his eventual goal.

"I want to be the owner of the record. At this point, because I possess it, I am the owner," he said.

Robinson posted no trespassing signs after neighbors asked police to arrest him for breaking in.

Flower Mound officers said they can't remove him from the property because home ownership is a civil matter, not criminal.

Lowrie and her neighbors continue to look for legal ways to get him out.

"If he wants the house, buy the house like everyone else had to. Get the money, buy the house," she said.

Robinson said he's not buying anything, and as far as he's concerned, the $330,000 house is already his and he has the paperwork to prove it.

Copyright 2011 WFAA via CNN. All rights reserved.



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July 18, 2011, 01:43 PM

Neighbors are just jealous cause they didn't think of it.


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July 18, 2011, 01:51 PM

Sounds like some ladies have their panties up in a bind because they have been out smarted.





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July 18, 2011, 01:52 PM

lol, i love texas.


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July 18, 2011, 01:56 PM

Sounds to me like he took advantage of a good opportunity and his neighbors are just jelly


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July 18, 2011, 02:01 PM

Yup. Neighbors are definitely dealing with some green eye.



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July 18, 2011, 02:04 PM

It could also be that the person who moved into the house is a little different form the rest of the people in the neighborhood.





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July 18, 2011, 02:04 PM

neighbors are so jelly


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July 18, 2011, 02:19 PM

wonder how he found out the house was empty, and that the mortgage company was gone
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July 18, 2011, 02:21 PM



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July 18, 2011, 02:22 PM

Some states allow you to buy homes that have a tax lien on them by simply paying the back taxes...


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July 18, 2011, 02:40 PM

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Some states allow you to buy homes that have a tax lien on them by simply paying the back taxes...
I definitely know Maryland allows this. One of my mentors bought tons of property near Deep Creep Lake and Frostburg.

All he did was go to the County auction and buy the tax liens. After you buy the lien, the owner has an additional 90 days to come up with the money + they have to pay your acquisition cost and legal fees (usually not to exceed $1,000)

If they do not redeem the certificate of sale you bought at auction within that period, congratulations - you now own the house and the property.

Picking up a $120,000 house for $1,500 is a very sweet feeling.



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July 18, 2011, 02:42 PM

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Originally Posted by Nubbs View Post
It could also be that the person who moved into the house is a little different form the rest of the people in the neighborhood.
Yes. He's going to have $329,814 more equity than they do.



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July 18, 2011, 03:06 PM

Gotta love your neighbors...


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July 18, 2011, 03:26 PM

he did the research, he took the time to set up camp...sounds like he earned it to me.

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