Thanks to a little-known Texas law, a man found an abandoned $300,000 home, moved his stuff in and filled out some paperwork. It cost him $16. Now, apparently he’s a homeowner.
On June 17, Kenneth Robinson moved into a $330,000 home in an upscale neighborhood in Flower Mound, Texas. Except, instead of going through a bank, wading through the mortgage process and making a down payment, Robinson went to the Denton County Courthouse and filled out a form. The house he was after was abandoned, and the mortgage company went out of business. So after months of research, Robinson took advantage of a Texas law called “adverse possession.” All he had to do was print out an online form and for a $16 fee was granted rights to the house.
Read more: http://moneyland.time.com/2011/07/18/man-gets-330000-home-for-16/#ixzz1SeUHhtWi
