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-   -   Texas house cost $16 (http://www.wakeworld.com/forum/showthread.php?t=789038)

pesos 07-21-2011 9:01 PM

Texas house cost $16
 
http://www.digtriad.com/news/article...r-330000-House

ha!

Laker1234 07-22-2011 8:16 AM

Democrats in action!!!

bruizza 07-22-2011 10:49 AM

How on earth can you blame this on Democrats ESPECIALLY in TEXAS???????? Did you read the article?

After three years of staying in the house, Texas law says he can petition the court for the deed.

Are you saying this law was passed solely by Democrats?

wakescene 07-22-2011 11:32 AM

political party aside, it's a loophole, and he found it! It is a very specific set of circumstances he had to fit to make this happen...not an easy task, especially since the markets are beginning to take some turns. I doubt you will see this happening more than a few times in the next few years.

With that said, good for him!

95sn 07-22-2011 11:50 AM

Good for him. Pretty rare that it actually works. Same in CA, its an old law.
REQUIREMENTS FOR OBTAINING LAND BY ADVERSE POSSESSION
A trespasser is entitled to legal ownership of property if his occupation of the property is hostile, actual, open and notorious, exclusive and continuous for a period of years set by state statute. (We explain each of these terms below.) Some states, such as California, also require the trespasser to have paid the local property taxes on the land.(1) The time required, which varies from state to state, is usually twenty years. It can be as short as five years when the trespasser pays the property taxes.

skull 07-22-2011 12:02 PM

Democrats?? I live close to this area and I assure you... there aren't many Democrats LOL. Ron must mean the "getting something for nothing" story is very Democrat inspired.

jason_ssr 07-25-2011 5:59 AM

NICE!!

My favorite scam de jour is the dollar coin scam. The U.S. Mint is trying to get $1 coins into circulation so they will ship them to you for free if you buy them at face value....credit cards accepted. So people are using their cards and buying thousands of dollars worth of coins for the CC points\miles. They buy coins, deposit them and pay the bill for a no cost miles accumulation.

acurtis_ttu 07-27-2011 10:13 AM

http://catalog.usmint.gov/webapp/wcs...dentifier=8100

I did this for a while too. there wree some people last year buying up to 100k /month, lol. looks like they finally cought on.

Laker1234 07-27-2011 12:34 PM

That's what I mean, Rob. To me, the guy should be jailed for trespassing.

cadunkle 07-27-2011 3:59 PM

Trespassing on who's property? The owner walked away from it and the bank went under, apparently not selling off that house as part of its assets after the owner defaulted on the loan. So it was abandoned. I say finders keepers.

You can't buy something if there's no owner. The state wants someone in that house and paying taxes. I'm sure the neighbors wouldn't appreciate it if it was getting decrepit and the yard was a jungle. Maybe there's a better way to deal with such a situation but the way this one panned out seems fine to me.


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