Man claims ownership of $300,000 Texas house after paying just $16


According to the Houston-based KHOU TV station, Kenneth Robinson moved into a house previously under foreclosure for a year, located on a well-manicured prestigious block in the town of Flower Mound. The former owners were forced to leave after the house went into foreclosure, but then the mortgage company also went out of business.

Robinson took advantage of a little known law called adverse possession that allowed him to move in and own exclusive bargaining rights with the previous owner. If he’s able to stay within the property for three years, Robinson will take full ownership by being awarded the title.

Adverse possession was created to allow someone to move in and prevent an abandoned home from falling into disrepair. The website http://adversepossession.com promotes the practice, even pointing to the possibility of doing it in Canada.

Robinson told the Texas TV station that until he wins the title, he doesn’t expect the mortgage payments to be made by the previous owner, nor does he expect an expensive legal battle with the existing mortgage holder, which would force him out. Until then, he’s been living without electricity or water due to the lack of deed, but the reward after three years seems worth it.

“This is not a normal process, but it’s not a process that’s not known,” Robinson told KHOU.

Neighbours, however, are not happy, calling Robinson a squatter who should be forced to pay for the house.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

COMMENTS

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?