has anyone seen this? its freaking crazy the neighbors are hating cause they still have to pay
http://www.break.com/index/buying-a-house-for-16-dollars-2111318
http://www.break.com/index/buying-a-house-for-16-dollars-2111318
- Thread starter BLOODHOUND
- Start date
Re: buying a house for 16 bucks
lmao, that's hilarious
lmao, that's hilarious
Re: buying a house for 16 bucks
Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too.
Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too.
Re: buying a house for 16 bucks
LOL haters...
LOL haters...
Re: buying a house for 16 bucks
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SurgeonPredator</div><div class="ubbcode-body">Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too. </div></div>
thats what i just told the wife... I was like I got a 100 bucks lets go house shopping!!!
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SurgeonPredator</div><div class="ubbcode-body">Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too. </div></div>
thats what i just told the wife... I was like I got a 100 bucks lets go house shopping!!!
Re: buying a house for 16 bucks
Right on, American Inginuity at it's finest!!
Why not, some lawyer or banker would snatch it up and flip it, but he was smart.
I like it!
Right on, American Inginuity at it's finest!!
Why not, some lawyer or banker would snatch it up and flip it, but he was smart.
I like it!
Re: buying a house for 16 bucks
Why would anyone celebrate this? The US tax payer just became responsible for the delta between $16.00 and the book value.
The squatter should be thrown out and the holder of the asset admonished for not securing the asset.
Good luck
Why would anyone celebrate this? The US tax payer just became responsible for the delta between $16.00 and the book value.
The squatter should be thrown out and the holder of the asset admonished for not securing the asset.
Good luck
Re: buying a house for 16 bucks
The law is the law and he found it so now he got it. I bet anyone of his neighbors woud do the same if they knew about this law. MM
The law is the law and he found it so now he got it. I bet anyone of his neighbors woud do the same if they knew about this law. MM
Re: buying a house for 16 bucks
If local laws exist - the local populace should pay for it.
Good luck
If local laws exist - the local populace should pay for it.
Good luck
Re: buying a house for 16 bucks
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SurgeonPredator</div><div class="ubbcode-body">Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too. </div></div>
I don't know the specifics of Real Estate Law in Texas, but I'd be surprised if its' as simple as mere <span style="font-style: italic">Possession</span> for three (3) years. I'd also be surprised if payment of Property Taxes for three (3) consecutive years coinciding with the start of Robinson's adverse possession is not also a requirement <span style="font-weight: bold">in conjuction with adverse possession</span> and <span style="font-style: italic">"actual, open, and notorious occupation of the premises constituting reasonable notice to the true owner."</span> There was no mention of payment of Property Taxes in the video segment. California Real Estate Law is more stringent than anywhere else in the U.S.
If payment of Property Taxes is a requirement for legal acquistion of Property Title through Adverse Possession in Texas <span style="font-style: italic">and</span> Robinson isn't paying the Property Taxes, legally he cannot obtain <span style="font-style: italic">Clear Title</span> either. However, neither can whomever is paying the Property Taxes <span style="font-style: italic">IF adverse possession</span> <span style="font-weight: bold">AND</span> <span style="font-style: italic">"actual, open, and notorious occupation of the premises constituting reasonable notice to the true owner"</span> is also a requirement of acquistion of Title through Adverse Possession under Texas Real Estate Law (because they aren't in possession of the Property).
According to the news reporter, <span style="font-style: italic">based on what Leigh Lowrie said</span>, <span style="font-style: italic">"the property was in foreclosure for more than a year, the Owner walked away, then the Mortgage company went out of business"</span>. Since the mortgage company that held the Property Title was foreclosing on the Property went bankrupt there may also be what is known as a <span style="font-style: italic">"Cloud"</span> on the Title of the Property.
Unfortunately for the Lowries', Robinson has no legal obligation to figure-out who actually owns title to the property and to contact said Property Owner and make a formal offer to purchase the Property. While Robinson is "squatting", he is in possession of the Property that is for all intensive purposes abandoned, and the only way to get him out is to force him out. Legally, he is "squatting", but he is in possesssion.
Keith
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SurgeonPredator</div><div class="ubbcode-body">Haters gonna hate...the neighbours are mad, because they paid 300k+ and some smart guy uses a gap in the system.
Someone could've told me, I can spare $16, too. </div></div>
I don't know the specifics of Real Estate Law in Texas, but I'd be surprised if its' as simple as mere <span style="font-style: italic">Possession</span> for three (3) years. I'd also be surprised if payment of Property Taxes for three (3) consecutive years coinciding with the start of Robinson's adverse possession is not also a requirement <span style="font-weight: bold">in conjuction with adverse possession</span> and <span style="font-style: italic">"actual, open, and notorious occupation of the premises constituting reasonable notice to the true owner."</span> There was no mention of payment of Property Taxes in the video segment. California Real Estate Law is more stringent than anywhere else in the U.S.
If payment of Property Taxes is a requirement for legal acquistion of Property Title through Adverse Possession in Texas <span style="font-style: italic">and</span> Robinson isn't paying the Property Taxes, legally he cannot obtain <span style="font-style: italic">Clear Title</span> either. However, neither can whomever is paying the Property Taxes <span style="font-style: italic">IF adverse possession</span> <span style="font-weight: bold">AND</span> <span style="font-style: italic">"actual, open, and notorious occupation of the premises constituting reasonable notice to the true owner"</span> is also a requirement of acquistion of Title through Adverse Possession under Texas Real Estate Law (because they aren't in possession of the Property).
According to the news reporter, <span style="font-style: italic">based on what Leigh Lowrie said</span>, <span style="font-style: italic">"the property was in foreclosure for more than a year, the Owner walked away, then the Mortgage company went out of business"</span>. Since the mortgage company that held the Property Title was foreclosing on the Property went bankrupt there may also be what is known as a <span style="font-style: italic">"Cloud"</span> on the Title of the Property.
Unfortunately for the Lowries', Robinson has no legal obligation to figure-out who actually owns title to the property and to contact said Property Owner and make a formal offer to purchase the Property. While Robinson is "squatting", he is in possession of the Property that is for all intensive purposes abandoned, and the only way to get him out is to force him out. Legally, he is "squatting", but he is in possesssion.
Keith
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Re: buying a house for 16 bucks
^ The one thing that kept going through my mind was: TAXES. Gonna be in for more than $16 if he is responsible for 3 years worth if/when he can get the title.
^ The one thing that kept going through my mind was: TAXES. Gonna be in for more than $16 if he is responsible for 3 years worth if/when he can get the title.
Re: buying a house for 16 bucks
Adverse Possession in MO is 10 years. I have an old building on 2 lots that joins my property, it was abandon in the 80's, so in 2003 I started paying the taxes on it. In 2013 I can get a court title.
Adverse Possession in MO is 10 years. I have an old building on 2 lots that joins my property, it was abandon in the 80's, so in 2003 I started paying the taxes on it. In 2013 I can get a court title.
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