He beat the system. Man claims 300K house for $16 *Video*

[ilike turtles]

damn, man. I gotta move to the south. that house is really nice for only 300k. if that house were in NY it would be worth like 700-800k

 

[ilike turtles]

damn, man. I gotta move to the south. that house is really nice for only 300k. if that house were in NY it would be worth like 700-800k

 

[sooperhooper]

I need to find a similar house.

 

[sooperhooper]

I need to find a similar house.

 

[Renaldo Balkman]

I hope he gets that house... he found the loophole, he should be rewarded

 

[Renaldo Balkman]

I hope he gets that house... he found the loophole, he should be rewarded

 

[ittakesalittlebitmore]

Originally Posted by AntonLaVey

Originally Posted by Deuce King

Originally Posted by Lamak

A black man doing it on em

Exactly.  Just give a black man a chance

.
  

some of the people salty were black, they just mad they paid 300000 for their crib and he got his for 16. I'd be mad too.

Almost all of the folks that are mad are as white as 2 day old @!@#. Black man played by their rules and won....my niqqa

 

[ittakesalittlebitmore]

Originally Posted by AntonLaVey

Originally Posted by Deuce King

Originally Posted by Lamak

A black man doing it on em

Exactly.  Just give a black man a chance

.
  

some of the people salty were black, they just mad they paid 300000 for their crib and he got his for 16. I'd be mad too.

Almost all of the folks that are mad are as white as 2 day old @!@#. Black man played by their rules and won....my niqqa

 

[kangaroobombs]

Originally Posted by Furrell

Props to him for doing what? Legally squatting because that's all it is.

They have a right to be mad. When the final sale goes through, that's if the sale goes through, the sale price will be listed at $16 not 330k and will bring the average value of a home in the neighborhood down dramatically.

He's never going to get the title. Just because the mortgage company that went out of business doesn't have it anymore, doesn't mean that another doesn't. Its common to sell debt and have someone else take over it which is exactly what happened here. Being on the news will be the downfall of him because now whoever owns said property will go through their backlogs and a value will be put it on it most likely in the 250k range of which this guy doesn't have. Its not hard to go on the computer at the public library and fill out these forms.

Add to that the fact that there is no running water or electricity. He is creating a health hazard via the raw sewage he creates especially in triple digit weather but he's the smart guy. The neighbors have a case and a good one. He's squatting and buying time.

And he doesn't have to wait out three years because he doesn't have the title/deed to the home:

Sec. 16.024 - The Three-Year Statute

A person [i.e., the original owner] must bring suit to recover real property held by another in peaceable and adverse possession under title or color title not later than three years after the day the cause of action accrues.

Under this section, the possessor must have title (i.e., a deed as part of a regular chain of title) or “color of title,

 

[kangaroobombs]

Originally Posted by Furrell

Props to him for doing what? Legally squatting because that's all it is.

They have a right to be mad. When the final sale goes through, that's if the sale goes through, the sale price will be listed at $16 not 330k and will bring the average value of a home in the neighborhood down dramatically.

He's never going to get the title. Just because the mortgage company that went out of business doesn't have it anymore, doesn't mean that another doesn't. Its common to sell debt and have someone else take over it which is exactly what happened here. Being on the news will be the downfall of him because now whoever owns said property will go through their backlogs and a value will be put it on it most likely in the 250k range of which this guy doesn't have. Its not hard to go on the computer at the public library and fill out these forms.

Add to that the fact that there is no running water or electricity. He is creating a health hazard via the raw sewage he creates especially in triple digit weather but he's the smart guy. The neighbors have a case and a good one. He's squatting and buying time.

And he doesn't have to wait out three years because he doesn't have the title/deed to the home:

Sec. 16.024 - The Three-Year Statute

A person [i.e., the original owner] must bring suit to recover real property held by another in peaceable and adverse possession under title or color title not later than three years after the day the cause of action accrues.

Under this section, the possessor must have title (i.e., a deed as part of a regular chain of title) or “color of title,

 

[Thats My Word]

Can someone else file those same papers he has and also wait in the living room on a lawn chair for however many years to claim title? It can be a waiting free for all where whoever waits longer gets the title.

 

[Thats My Word]

Can someone else file those same papers he has and also wait in the living room on a lawn chair for however many years to claim title? It can be a waiting free for all where whoever waits longer gets the title.

 

[Gill Baka Esq. LLC.]

wow what a bunch of haters...damn let the man live

 

[Gill Baka Esq. LLC.]

wow what a bunch of haters...damn let the man live

 

[aepps20]

This case brings me back to first year property class in law school

. Adverse possession happens all of the time in areas with a ton of open land. With that said, this guy has to stay in that house for ten years to eventually get title which he probably won't be able to do.

 

[aepps20]

This case brings me back to first year property class in law school

. Adverse possession happens all of the time in areas with a ton of open land. With that said, this guy has to stay in that house for ten years to eventually get title which he probably won't be able to do.

 

[scotthallwithapick]

Man I would throw so many parties if I found a house like this

 

[Thats My Word]

^Please elaborate.

Does he actually have to stay in the house for X years? Like, he can never leave? Who checks up on that? Can someone else snatch up the house if he steps out for a jog or something?

 

[scotthallwithapick]

Man I would throw so many parties if I found a house like this

 

[Thats My Word]

^Please elaborate.

Does he actually have to stay in the house for X years? Like, he can never leave? Who checks up on that? Can someone else snatch up the house if he steps out for a jog or something?

 

[reener]

lady is salty!

 

[reener]

lady is salty!

 

[brettthejett]

The neighbors are upset because they owe $500,000.00 on their $300,000.00 house

 

[brettthejett]

The neighbors are upset because they owe $500,000.00 on their $300,000.00 house

 

[aepps20]

He doesn't have to always stay in the house but he needs to stay long enough without long interruptions to meet the continuous element of adverse possession. All the elements of adverse possession are based on the facts and will be hashed out in court.. If someone else steps in while he goes out for a jog the clock for adverse possession would start all over with respect to that person assuming they meet all of the elements.