Man Claims $300K House for $16

[RandomGuy]

Um, what?
Dude files obscure legal papers, moves into a house abandoned by the person who left the under-water property.

:wow

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A tip of the hat to our pals at Curbed for tipping us off to this one. Thanks to a little-known provision in state law, enterprising Texan Kenneth Robinson -- either a hero or a squatter, depending on your point of view -- has taken possession of a foreclosed $300,000 house for a mere $16. That's the amount he forked over to file a claim of "adverse possession" of the property with the Denton County courthouse.

Robinson contends that the abandoned house is his for the taking, since neither the original owner nor the bank is likely to go to the trouble or expense of kicking him out. If he can manage to stay in the property for three years, he says, the law grants him the right to petition the court for title to the house.

Crafty though Robinson may be, not all of his new neighbors are happy to see him in their midst. Watch the video to see how the controversy unfolds.

[have to go to the link to see the video]
http://realestate.aol.com/blog/2011/07/18/man-snags-300-000-house-for-16/

[DMC]

I didn't watch the video. There's a guy in Florida living in a house he hasn't made a payment on in 5 years (no he doesn't own the house). The backlog for foreclosure and vacate notices is huge... he knows it and doesn't see a reason to buy another house while he's living in a waterfront home free of charge.

[SnakeBoy]

I think the neighbors are mad they didn't know they could do this or just mad that a black dude is in the neighborhood.

[redzero]

356kiqllkU8

[DUNCANownsKOBE]

I didn't watch the video. There's a guy in Florida living in a house he hasn't made a payment on in 5 years (no he doesn't own the house). The backlog for foreclosure and vacate notices is huge... he knows it and doesn't see a reason to buy another house while he's living in a waterfront home free of charge.
This is 100% serious, but email me this guy's name (if you have it). I might know him :lol, dead serious.

[Trainwreck2100]

lol the mortgage company is out of business, who is gonna sue him?

[Trainwreck2100]

also that guys fucked if there is homeowner's dues owed on that place the minute he gets title from the state the HOA can forclose on his ass

[DUNCANownsKOBE]

Why are the neighbors so pissed about it? If he's living in the house, not violating any neighborhood courtesies or anything, and taking care of it, thats way better than an abandoned for closure turning to shit because no one takes care of it.

[Trainwreck2100]

Why are the neighbors so pissed about it? If he's living in the house, not violating any neighborhood courtesies or anything, and taking care of it, thats way better than an abandoned for closure turning to shit because no one takes care of it.

they're pissed cause that black guy's gonna get a free house. He has to live there with no utilities for three years though. I'm more interested in how he found out about this obscure law *cough*prison*cough*

[DUNCANownsKOBE]

:lol I was gonna say a white neighborhood in the DFW suburbs probably wouldn't be nearly as pissed if it was a savvy white guy who moved into that house.

I think the more likely thing is him having too much time on his hands from unempl:lolyment and being able to research obscure home ownership laws for hours on end.

[Chachachango]

Neighbors hating. Dude played the system right he should get the house. THat's what police departments do. If they get impounds or some other property that doesnt get claimed after a certain time the PD takes claim of the property and auction whatever the property is. Gangsta shit. Im gonna be on the lookout, them 300000 dollar homes are nice.

[Trainwreck2100]

he had the luxury of the mortgage company being out of business. The original owner must be pissed cause he could have moved right back in

[Halberto]

Racist cunt

[024]

i would be pissed off too if the guy manipulated the system to screw over another house owner. but this isn't the case since the original owner defaulted on his loan and the house went to the mortgage company. looks like the guy was screwing over other mortgage companies who could have bought the house for cheaper and sell it at higher prices. so it's all good.

[DMC]

Why are the neighbors so pissed about it? If he's living in the house, not violating any neighborhood courtesies or anything, and taking care of it, thats way better than an abandoned for closure turning to shit because no one takes care of it.

I would go to the county tax appraiser and bitch about my home value. I would show that a house the same size on the same street sold for 16 dollars.

[Nathan89]

Racist cunt

It's always about race.:rolleyes

[fraga]

http://rlv.zcache.com/teetshirt_they_see_me_rollin_they_hatin-p235231154928230739yayt_400.jpg

[Frenzy]

imo that lady was thinking:



We worked hard in high school to get in a good college. Then went to college worked hard to get a degree and get a good paying job. Worked hard at our job to get promoted to get better pay to buy a house.

No shit the lady is mad knowing they did all that and all this dude do was move in :lol

[ChuckD]

lol the mortgage company is out of business, who is gonna sue him?

I think he's home free, no pun intended. The mortgage co. is out of business, and the only way the previous homeowner can evict him is to get current on his payments....to a company no longer in existence. :lol

[Das Texan]

hope he pays his homeowner's taxes the day they are due if not sooner.

[MannyIsGod]

:lmao

So awesome

[Trainwreck2100]

seriously if they really want him out just sneak a bunch of their shit into his house say he stole it, boom prison. Part of the law is he has to stay there and not move anywhere else

[redzero]

Or they can dress up like ghosts and scare him out.

[Trainwreck2100]

and since he has no electricity they can provide light by setting some sort of cross shaped fire on his lawn

[TDMVPDPOY]

fck squatters...

theres plenty of that shit down here

there was a case last year where some renters live on the property rent free, and fkn did some extentions...owner sold the house, and the clowns wanted a share of the profit...wtf.

[RandomGuy]

This is 100% serious, but email me this guy's name (if you have it). I might know him :lol, dead serious.

It's in the article in the OP. hint hint :D

[RandomGuy]

I would go to the county tax appraiser and bitch about my home value. I would show that a house the same size on the same street sold for 16 dollars.

It didn't sell for 16 bucks that was just a filing fee, but there are companies that protest tax appraisals, for a fee of course.

[SA210]

Pure ownage :lol

[manufan10]

Or they can dress up like ghosts and scare him out.


and since he has no electricity they can provide light by setting some sort of cross shaped fire on his lawn

:lmao:lmao:lmao

[DMC]

It didn't sell for 16 bucks that was just a filing fee, but there are companies that protest tax appraisals, for a fee of course.

I know...

[RandomGuy]

I know...

Sorry. hard to turn off the nitpicky aspect sometimes.

[Spursfan092120]

I think the neighbors are mad they didn't know they could do this or just mad that a black dude is in the neighborhood.

Don't think the race has anything to do with it..they're just hatin, honestly..they don't like that they had to pay 300k for their houses, and he got an equal value home for $16..

[DMC]

Don't think the race has anything to do with it..they're just hatin, honestly..they don't like that they had to pay 300k for their houses, and he got an equal value home for $16..
Lets see how equal value it looks after 3 years with no utilities.

[Agloco]

Not sure if this is related but I read about a group of investors in FL who were taking advantadge of an obscure loophe to obtain preforclosures for the cost of partying off any HOA dues which were in arrears.

Something about the HOA not needing to notify the bank about the process then a new owner can rent out the property. They've obtained about 8.2 million in property for just over 200k.

http://www.bankrate.com/financing/mortgages/1-2-million-mansion-for-10k/#ixzz1SUSyzxCw