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$330,000 home for $16? (Read 4496 times)
UmmYeahOk
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$330,000 home for $16?
Jul 22nd, 2011 at 1:10am
 
http://www.wfaa.com/news/local/Texas-Law-Lets-Stranger-Move-Into-330000-Home-125...

Quote:
A $330,000 home for $16? 'This is not a normal process'

A little-known Texas law and a foreclosure could have a man in Flower Mound living on Easy Street.

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?" said Leigh Lowrie, a neighboring resident. "He just squats there."

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. But, Kenneth Robinson said he's no squatter. He said he moved in on June 17 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," he said. "It's just not known to everybody."

He says an online form he printed out and filed at the Denton County courthouse for $16 gave him rights to the house. The paper says the house was abandoned and he's claiming ownership.

"I added some things here for my own protection," Robinson said.

The house is virtually empty, with just a few pieces of furniture. There is 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 believes because of the cost, neither is likely. The law says if he stays in the house, after three years he can ask the court for the title.

He told News 8 his goal is to eventually have the title of the home and be named the legal owner of the home.

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

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

Flower mound officers say 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. They are talking to the mortgage company, real estate agents and attorneys. They're convinced he broke into the house to take possession, but Robinson told News 8 he found a key and he gained access legally.

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

Robinson said he's not buying anything. As far as he's concerned, the $330,000 house is already his and he has the paperwork to prove it.
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UmmYeahOk
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Re: $330,000 home for $16?
Reply #1 - Jul 22nd, 2011 at 1:12am
 
http://www.wfaa.com/home/related/Stranger-moves-into-foreclosed-home-citing-litt...

Quote:
Stranger moves into foreclosed home, citing little-known Texas law

A little-known Texas law and a foreclosure could have a man in Flower Mound living on easy street.

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?" said Leigh Lowrie, a neighboring resident. "He just squats there."

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. But, Kenneth Robinson said he's no squatter. He said he moved in on June 17 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," he said. "It's just not known to everybody."

He says an online form he printed out and filed at the Denton County courthouse for $16 gave him rights to the house. The paper says the house was abandoned and he's claiming ownership.

"I added some things here for my own protection," Robinson said.

The house is virtually empty, with just a few pieces of furniture. There is 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 believes because of the cost, neither is likely. The law says if he stays in the house, after three years he can ask the court for the title.

He told News 8 his goal is to eventually have the title of the home and be named the legal owner of the home.

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

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

Flower mound officers say 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. They are talking to the mortgage company, real estate agents and attorneys. They're convinced he broke into the house to take possession, but Robinson told News 8 he found a key and he gained access legally.

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

Robinson said he's not buying anything. As far as he''s concerned, the $330,000 house is already his and he has the paperwork to prove it.
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UmmYeahOk
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Re: $330,000 home for $16?
Reply #2 - Jul 22nd, 2011 at 1:13am
 
http://www.wfaa.com/news/consumer/After-moving-in-for-16-man-ready-to-share-tech...

Quote:
After moving in for $16, he's ready to share technique

The man who took possession of a $330,000 home for just $16 now wants to show other people how to do it.

Last week, we told you about Kenneth Robinson's discovery, and since then his story has spread around the world on the Internet.

People who see what he's done want to know more about a real estate law called "adverse possession." While the technique has its risks, Robinson is now reaping the rewards.

"I mean, I've been contacted even from Hong Kong," he said, reviewing his fan mail.

The man who says he's a former Marine, entrepreneur and real estate agent moved into the house a month ago, claiming "adverse possession."

He filed an affidavit at the Denton County courthouse that says he is now the owner of a house that was abandoned by someone else.

When people saw what he's done, they started calling and knocking on his front door.

"All they want is that paperwork," Robinson said. "But there is a whole lot more to it than just the paperwork. The paper is what makes it legal."

Robinson said he wants to cash in on his technique with a seminar that outlines the rules (and risks) of adverse possession.

The number one risk is eviction. Any person or a bank with the legal title can start the process.

In Robinson's case, it could be Bank of America.

"Bank of America told me it has not foreclosed on the property, rather the original owner just walked away," he said. "If it does foreclose, it will exercise all of its legal rights."

That could mean having Robinson removed from the house by police, or offering him a financial incentive to leave.

David Weatherbie is the former chair of the state bar's committee on real estate law. He told News 8 that "adverse possession" is as old as Texas.

It is normally used to settle disputes between ranchers or land owners where property lines aren't well-defined.

Weatherbie said Robinson has little chance of ever owning the Flower Mound house outright because he would have to live there for 5, 10 or 25 years before it reverts to his ownership.

"That's a long time for somebody to just sit in a house that somebody else might actually own without the other party taking action to evict them from the house," Weatherbie said.

Robinson says even if he's forced to move, he could still claim possession of the appliances, the pool table or anything inside.

Or he could walk away with a check for his time.

"But if I have to go, I am prepared to go," he said. "I'm here to stay, but if I have to go, I am prepared to."

Robinson says he wants other people to know adverse possession is not a loophole it's the law. He's ready to use his experience to teach them all about it.
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UmmYeahOk
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Re: $330,000 home for $16?
Reply #3 - Jul 22nd, 2011 at 1:14am
 
http://www.wfaa.com/home/related/Man-who-took-possession-of-330K-home-for-16-wan...

Quote:
The man who took possession of a $330,000 home for just $16 now wants to show other people how to do it.

Last week, we told you about Kenneth Robinson's discovery, and since then his story has spread around the world on the Internet.

People who see what he's done want to know more about a real estate law called "adverse possession." While the technique has its risks, Robinson is now reaping the rewards.

"I mean, I've been contacted even from Hong Kong," he said, reviewing his fan mail.

The man who says he's a former Marine, entrepreneur and real estate agent moved into the house a month ago, claiming "adverse possession."

He filed an affidavit at the Denton County courthouse that says he is now the owner of a house that was abandoned by someone else.

When people saw what he's done, they started calling and knocking on his front door.

"All they want is that paperwork," Robinson said. "But there is a whole lot more to it than just the paperwork. The paper is what makes it legal."

Robinson said he wants to cash in on his technique with a seminar that outlines the rules (and risks) of adverse possession.

The number one risk is eviction. Any person or a bank with the legal title can start the process.

In Robinson's case, it could be Bank of America.

"Bank of America told me it has not foreclosed on the property, rather the original owner just walked away," he said. "If it does foreclose, it will exercise all of its legal rights."

That could mean having Robinson removed from the house by police, or offering him a financial incentive to leave.

David Weatherbie is the former chair of the state bar's committee on real estate law. He told News 8 that "adverse possession" is as old as Texas.

It is normally used to settle disputes between ranchers or land owners where property lines aren't well-defined.

Weatherbie said Robinson has little chance of ever owning the Flower Mound house outright because he would have to live there for 5, 10 or 25 years before it reverts to his ownership.

"That's a long time for somebody to just sit in a house that somebody else might actually own without the other party taking action to evict them from the house," Weatherbie said.

Robinson says even if he's forced to move, he could still claim possession of the appliances, the pool table or anything inside.

Or he could walk away with a check for his time.

"But if I have to go, I am prepared to go," he said. "I'm here to stay, but if I have to go, I am prepared to."

Robinson says he wants other people to know adverse possession is not a loophole it's the law. He's ready to use his experience to teach them all about it.
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UmmYeahOk
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Re: $330,000 home for $16?
Reply #4 - Jul 22nd, 2011 at 1:20am
 
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haleycart
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Re: $330,000 home for $16?
Reply #5 - Feb 20th, 2012 at 1:23am
 
Thank you for providing an interesting topic here. Actually, I remember this sensational issue! In the summertime of 2011, a Texas man rose to infamy with the adverse possession of a $330,000 estate in Flower Mound, Texas. The courts, however, have decided that Kenneth Robinson's adverse possession is not lawful, and he has been evicted. Check this out: Courts are kicking adverse possession practitioners out of homes. Indeed, the said possession is a form of squatting, which is trespassing. That is the reason why the endeavor called adverse possession, has been quashed by numerous court decisions. Now, I am wondering, will Mr. Robinson give up or will he fight some more?
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Re: $330,000 home for $16?
Reply #6 - Apr 7th, 2012 at 12:40am
 
"Squatters" Evicted From $386,000 Flower Mound House
http://www.candysdirt.com/2012/02/22/squatters-affect-property-value-collin-coun...

Basically someone tried this EXACT same thing in a neighborhood across the street from this guy. I dont know if this woman is stupid or just ignorant. Meaning its possible that she assumed her husband had taken care of it. But she and her 3 children were evicted after her husband was arrested for unrelated charges. She thinks that because she paid for utilities and landscaping that means she owns the house, yet cant actually proved she paid for the house herself.

What Im curious about is how did these people get keys to a house they dont rent/own?
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Re: $330,000 home for $16?
Reply #7 - Apr 7th, 2012 at 12:40am
 
http://www.pegasusnews.com/news/2012/feb/22/more-squatters-kicked-out-flower-mou...

Apparently the husband was a friend of the $16 guy. Not sure why the proper paperwork wasnt filed. Still, even if it was, someone bought the house. Foreclosed or not, someone still owned it. The adverse possession law works when no one really owns it as the owner walked away. First guy got evicted because the bank owned it, and wised up. These people got evicted because someone bought the house, meaning someone clearly owned it, even if it was foreclosed on.
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