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Man uses obscure law to claim ownership of $300k home in upscale Texas town... for just $16
Daily Mail ^ | 7/20/11 | Wil Longbottom

Posted on 07/20/2011 11:19:26 AM PDT by Do Not Make Fun Of His Ears

If someone you knew claimed to have bought a new house for $16, you'd probably expect it to be a rundown hovel.

But for Kenneth Robinson, that princely sum could see him as the new owner of a $300,000 home in an well-manicured part of Flower Mound, Texas.

On June 17, Mr Robinson took advantage of a little known Texas law to move into the abandoned home.

The house had been in foreclosure for more than a year and its owner walked away. Then, the mortgage company went bust.

After months of research, Mr Robinson used the obscure law 'adverse possession', filled out some paperwork costing just $16, and moved some of his belongings into the home.

Under the law, if someone moves into an abandoned home they have exclusive negotiating rights with the original owner.

If the owner wants them to leave, they have to pay off the mortgage debt on the home and the bank has to file a complicated lawsuit to get them evicted.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: News/Current Events; US: Texas
KEYWORDS: crisis; foreclosure; housing; housingbubble; subprime
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This is in Flower Mound, Texas

1 posted on 07/20/2011 11:19:32 AM PDT by Do Not Make Fun Of His Ears
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To: Do Not Make Fun Of His Ears

Send him the tax bill.


2 posted on 07/20/2011 11:21:44 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Do Not Make Fun Of His Ears

I don’t see the down side...good on him for being well-informed.


3 posted on 07/20/2011 11:22:07 AM PDT by JRios1968 (I'm guttery and trashy, with a hint of lemon. - Laz)
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To: Do Not Make Fun Of His Ears

“Mr Robinson used the obscure law ‘adverse possession’,....”

Adverse possession ... AKA “squatters’ rights”.


4 posted on 07/20/2011 11:22:07 AM PDT by USFRIENDINVICTORIA
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To: Do Not Make Fun Of His Ears

The law’s the law.


5 posted on 07/20/2011 11:23:08 AM PDT by Jeff Chandler (Just once I'd like someone to call me 'Sir' without adding 'You're making a scene.' - Homer Simpson)
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To: JRios1968

Wish I had known about this deal!


6 posted on 07/20/2011 11:24:18 AM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: USFRIENDINVICTORIA

Yep


7 posted on 07/20/2011 11:24:51 AM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: JRios1968

“Leigh Lowrie, who lives nearby, said: ‘What paperwork is it and how is it legally binding if he doesn’t legally own the house? He just squats there.”

They are just pissed they didn’t think of it first.


8 posted on 07/20/2011 11:26:09 AM PDT by CJ Wolf (I like it that FR still spell checks "obama")
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To: Do Not Make Fun Of His Ears

The law is the law but if I was the county I would sure send him the tax bill.


9 posted on 07/20/2011 11:26:09 AM PDT by PeteB570
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To: cripplecreek

He’ll pay property taxes going forward. He doesn’t owe back taxes on this property.


10 posted on 07/20/2011 11:27:32 AM PDT by ShadowAce (Linux -- The Ultimate Windows Service Pack)
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To: PeteB570
It's been years since I studied this but I seem to recall the elements were open and notorious possession AND paying the tax bill.

Lawyers?

11 posted on 07/20/2011 11:28:21 AM PDT by truthkeeper (Vote Against Barack Obama in 2012!)
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To: PeteB570

While property taxes in Texas might be on the high side (although nowhere near as high as, say, NH or NJ) if that’s all I had to do to own a house, send away. I’d rather pay $10K than $300K.


12 posted on 07/20/2011 11:28:34 AM PDT by OCCASparky (Steely-eyed killer of the deep.)
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To: stephenjohnbanker
its owner walked away. Then, the mortgage company went bust.

I doubt it is the only house in this situation.

13 posted on 07/20/2011 11:28:50 AM PDT by thackney (life is fragile, handle with prayer)
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To: Jeff Chandler

There are thousands of homes in the same situation, right now, in Dallas/Ft Worth, I’m sure.

http://dallas.craigslist.org/search/rea?query=foreclosure&srchType=A&minAsk=&maxAsk=&bedrooms=


14 posted on 07/20/2011 11:29:03 AM PDT by 2ndDivisionVet (I'll raise $2million for Gov. Sarah Palin. What'll you do?)
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To: cripplecreek
Send him the tax bill.

Exactly - I have no idea if that's an element of adverse possession in Texas, but it's often an element of an adverse possession claim.

The article seems full of WTF in any event. "Obscure law"? Adverse possession is taught in Property 101.
15 posted on 07/20/2011 11:29:10 AM PDT by rockvillem
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To: Do Not Make Fun Of His Ears

Smart guy; way to go!

I have no problem with this whatsoever, and good for him. I wish we had something similar in Germany, but what the heck; for that, I’m willing to settle in Texas.


16 posted on 07/20/2011 11:29:20 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: Do Not Make Fun Of His Ears

17 posted on 07/20/2011 11:30:05 AM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: Do Not Make Fun Of His Ears

Adverse possession laws vary by state.

In Arkansas, a claim for adverse possession can only take place after you’ve resided on and maintained the property for seven years. Full documentation of residence and maintenance is also required.


18 posted on 07/20/2011 11:30:52 AM PDT by hsrazorback1 (Seek truth.)
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To: ShadowAce

Now the question .. how did he get in ?

If door was locked.. would that not be breaking and entering.. surely the law can not reward a criminal act.

He will in the long run loose, some one some where has clear title and ownership.


19 posted on 07/20/2011 11:31:08 AM PDT by Bidimus1
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To: stephenjohnbanker

Read the law.
There is much you can do.
Very few do read the law. Those who do can do well.


20 posted on 07/20/2011 11:31:46 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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