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REA's- Adverse Possession?

I saw this story this weekend and thought it both crazy and genius.  It also reminds me that there are so many loopholes in laws that need to be addresses.

http://www.wfaa.com/home/related/Stranger-moves-into-foreclosed-home-citing-little-knownTexas-law.html

The comments on this story make me cringe though.

Re: REA's- Adverse Possession?

  • Yeah I saw that too!  The neighbors are TICKED.  Can't say I blame them... almost seems like cheating, especially if they are struggling with their own mortgages.

    I was very sad to see that a neighbor down the street has been foreclosed on.  He was single living in a huge home and I don't know why he didn't try to sell when he lost his job, but he didn't.  Today is the last day for him to move out (I was nosy when walking with Maddie and saw an orange paper on his door so I walked up to read it and saw the eviction notice).

    I hope nobody just decides to move in there!

    ETA - forgot about the part about the mortgage company also going out of business.  Not likely with the house in my neighborhood.

    Agree on the comments - horrible.  One comment had some good points - if he doesn't have electricity and water turned on there, how will he get rid of human waste and live decently? 

    "If you can't say something nice, shut the hell up!"
    - Paula Deen to 104.1 KRBE's Producer Eric 9/17/2011
  • I think that there is a lot of missing info.  When a mortgage co goes out of business they don't just vanish.  Their assets are sold to stand for their debts.  This house is probably in a pile of paperwork somewhere and owned by a major bank.  Key or no key, it's still breaking and entering.  If I steal your keys and go in your house I'm still breaking and entering and it's still illegal.  It's trespassing as the very least...  Is this man going to pay the property taxes?  Has he researched the title to make sure that their aren't other liens on the home? 

    Adverse posession in more in line with neighbors fence being on your property, not an entire house.  It also looks like there is an HOA.  I'm sure they will get him out.  The fees aren't being paid and I'm sure the have a lien on the house. 

  • imagebpaullo:

    I think that there is a lot of missing info.  When a mortgage co goes out of business they don't just vanish.  Their assets are sold to stand for their debts.  This house is probably in a pile of paperwork somewhere and owned by a major bank.  Key or no key, it's still breaking and entering.  If I steal your keys and go in your house I'm still breaking and entering and it's still illegal.  It's trespassing as the very least...  Is this man going to pay the property taxes?  Has he researched the title to make sure that their aren't other liens on the home? 

    Adverse posession in more in line with neighbors fence being on your property, not an entire house.  It also looks like there is an HOA.  I'm sure they will get him out.  The fees aren't being paid and I'm sure the have a lien on the house. 

    These are what I was thinking.  If he's not paying for the upkeep, he will be out on his own again, anyway.

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