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Squatter Occupies Bank Of America-Owned $2.5 Million Boca Raton Mansion, Hilarity Ensues
The robosigning/fraudclosure fiasco came, saw, and eventually left following a comprehensive slap-on-the-wrist settlement with all mortgage originating banks. In the process, it gave an inadvertent hint to the banks how they can boost house property values: by keeping homes from exiting the foreclosure pipeline, and off the market due to a legal mandate forcing them to do just that, it created a shortage of homes available for sale and thus provided an explicit subsidy funded by the banks themselves. The resulting "foreclosure stuffing" remains with us to this day.
Yet while it did manage to artificially boost prices, the process succeeded in one thing: making a mockery out of property rights, as it became quite clear that nobody knows who owns what, hence demanding a global settlement release from the very top. But not even the 10th incarnation of Linda Green could possibly conceive of the following episode showing just how surreal U.S. housing reality can be, when one mixes combustible and outright idiotic property laws, with a real estate market that, when one pulls away the facade of "made for TV pundtiry", is in absolute shambles.
From the Orlando Sentinel:
Squatting in style: 23-year-old occupies empty $2.5 million Boca home
The 23-year-old has moved into an empty $2.5 million mansion in a posh Boca Raton neighborhood, using an obscure Florida real estate law to stake his claim on the foreclosed waterside property.
The police can't move him. No one saw him breaking into the 5-bedroom house, so it's a civil matter. And representatives for the real owner, Bank of America, said they are aware of the situation and are following a legal process.
But the situation is driving his wealthy neighbors crazy.
"This is a very upsetting thing," said next door neighbor Lyn Houston. "Last week, I went to the Bank of America and asked to see the person in charge of mortgages. I told them, 'I am prepared to buy this house.' They haven't even called me back."
Barbosa, according to records, is a Brazilian national who refers to himself as "Loki Boy," presumably after the Norse god of mischief. He did not return calls.
Someone with his name has been boasting about his new home on Facebook, even calling it Templo de Kamisamar.
Barbosa also posted a notice in the front window naming him as a "living beneficiary to the Divine Estate being superior of commerce and usury."
A spokeswoman for Bank of America said her company has sent overnight a complaint and an eviction notice to a clerk in Palm Beach County.
"The bank is taking this situation seriously and we will work diligently to resolve this matter," said Jumana Bauwens for Bank of America.
Sunrise real estate lawyer Gary Singer said Barbosa is invoking a state law called "adverse possession," which allows someone to move into a property and claim the title — if they can stay there seven years.
A signed copy of that note is also posted in the home's front window.
It's the most valuable grab since the adverse possession law started being used in a handful of cases that have popped up in the Palm Beach County Property Appraiser's Office over the past three years. Soon after Bank of America foreclosed on the property in July, Barbosa notified the Palm Beach County Property Appraiser's Office that he was moving in.
Police were called the day after Christmas to the home at 580 Golden Harbour Drive, but did not remove him. He presented cops with the "adverse possession" paperwork, according to the police report.
Houston said that the home had been empty for about 18 months. Property records show it was sold to a family in 2005 for $3.1 million. The deed is currently valued at $2.5 million, according to county records. The county appraiser's office lists the total market value of the 7,522-square-foot house at $2.1 million.
Real estate websites show canal views from sumptuous interiors including pillars, a curved staircase, marbled bath, second-floor balconies and a pool.
Singer says the adverse possession rule stems from the days when most people lived on farms. He said whoever tries to use the rule has to occupy the property in an "open and notorious manner."
"They can't be boarding up the windows and hiding in there," he said.
After relatively few instances of the rule being invoked over the previous 10 years, 13 cases of adverse possession were filed in 2011, according to John Enck, a manager of ownership services at the appraiser's office. It spiked even more in 2012: 19 cases, but so far, since Oct. 1, only six cases have been filed, he said.
Officials in Broward County did not respond to several requests for similar data.
Meet the squatter: Loki Boy humself:
Andre Barbosa can safely say that he has one of the nicest homes on the block in Boca Raton, Florida.
But the 23-year-old Brazilian national does not own or even rent the palatial $2.5million estate legally - he is a squatter.
Barbosa, originally from the neighboring Pompano Beach, moved into 580 Golden Harbour Drive in July
...
Speaking to ABCNews.com Thursday, a homeowner who asked not to be identified said that he entered the house around the same time and found four people inside, Barbosa among them.
One of the people said that the group is 'establishing an embassy for their mission,' and that families would be moving in and out of the property.
The neighbor said he believes that the 23-year-old is a 'patsy' who got caught up in something bigger.
According to his Facebook page, the 23-year-old, who refers to himself as 'Loki Boy' after the Norse god of mischief, attended South Technical Education Center in Boynton Beach and South Tech Academy in West Palm Beach.
In a brazen move, he also created a page for the Boca Raton mansion where he has been living and entertaining friends, which he calls Templo de Kamisamar.
Meanwhile, neighbors around Golden Harbour Drive who spoke to the station WPEC had a clear message for the unwanted resident: Leave now!
'You're walking into a house, it's crazy. And the point of not being able to get him out is even crazier,' one unidentified neighbor said.
And finally:
HOW TO TAKE OVER SOMEONE'S PROPERTY AND GET AWAY WITH IT
Adverse possession is a principle of real estate law that gives anyone who possesses the land of another for an extended period of time in an 'actual, open, hostile and continuous' manner the right to claim legal title to that land.
The exact elements of an adverse possession claim may be different in each state. In Florida, the law prescribes continuous possession of at least seven years. In New Jersey, a squatter must be in possession of the property for 30 years, while in New York it's 10 years.
In some states, the trespasser must have paid taxes on the property during this time period. Other states don’t require payment of property taxes, but will apply a shorter time requirement for occupying the land if the trespasser has paid taxes.
* * *
Just like that lightbulbs went over the heads of millions of Americans, especially when one considers that for the vast majority of banks there is virtually no imperative to pursue squatters out of houses to which the banks themselves most likely don't have the original "wet title" to.
That, and all the other allergies the US seems to developing with respect to "private" property slowly but surely.
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he should rent it out and go on to the next place. After he gets about 10 more he should package them and sell them to pension funds and short them. This is America, that's how we do it!
http://static1.fjcdn.com/comments/Like+_9a96c9c37485be0b4c32082eeeca8651...
@fonzannoon
I nominate this post of 2013 (so far).
P.S. Have you crop dusted anyone today?
"he should rent it out and go on to the next place. After he gets about 10 more he should package them and sell them to pension funds and short them. This is America, that's how we do it!"
Now that has to be the best comment for the month of January. Fonz was born to be a banker. lmao
You could call the fund QE for the homeless.
Why fear foreclosure? Move next door with adverse possession swap for defaulting neighbors.
Bullish :
(URGENT) N. Korea threatens "physical countermeasures" against S. Korea over UN sanctions
Now THAT explains why all the pundits are exuberant on a housing recovery!
Genius
Verily!
JAM the system Loki Boy!
http://www.youtube.com/watch?v=RPjggN-KByI
America has had it good for too long and is about to suffer the consequences of their selfish complacency. They need to become accustomed to foreign nationals--particularly Chinese with a debt to exact--taking up residence in once-sacred areas.
He got the occupation in an open and notorious manner part now.
BofA may not be able to prove that they own the property and probably wish all this publicity would just go away ... simple just give it to Loki
Clearly, BOA doesn't own it, they have to foreclose.
That's where BOA has an issue.
I GUARANTEE COUNTRYWIDE WROTE THIS LOAN!!!!!
THERE ARE NO *WET INK* DOCS TO ENFORCE THE LIEN!!
BOOK IT!!!!!
and Lanny Breuer can't prove any fraud.
I wonder if was able to put on his underwear this morning.
oy vay!
Be a good neighbor, seven years go by fast
And you know what things might even speed-up.
Imagine the big banks do finally go broke and before that happens all their files are destroyed to hide their crimes of the past and present.
Further a house that is owned by say 11.000 owners spread all over the world has no owner (well possible in case of a synthetic MBS) has no owner.
Why in heaven should the initial criminal the bank (which is now taking care for the house by representing the imaginary owners which will never get a dime) get the house/ The bank has the least right. In the opposite, this house was used to make crimes and fraud by selling MBS while knowing their are worthless. This house belongs to nobody, its just an evidence of a criminal case.
So Loki boy has my deepest sympathies. He deserves the house because he is living in it and he did nothing wrong about it.
A boy from Brazil had to come to show the Americans what is legally possible and how to do it. What a shame.
There's dozens of empty houses Central Texas with no 'For Sale' signs in front. Anyone can walk in and set up house and no one would ever know. Bring your portable Coleman stove and you can cook urself a nice dinner in peace and quiet...live high on the hog for free! I don't know what the game is but the houses are there for the taking, evidently. Seems the bank doesn't list them or care about them anymore or they would be trying to sell them.
Live for Free! Why not?
Legalzoom.com has lease forms, you can forge, for less than $20.
Get the utilities hooked up in your name, rent out rooms, install deadbolts on your tenants room/door, install no trespassing signs to take advantage of police protection, rinse and repeat.
If I were 20 again!!!!!!! To old now the wife would never go for it
Just get your cell phone bill sent there. Use cell bill as proof of residency to get water turned on. Water bill is enough to get the rest turned on.
Like Mick Dundee on walkabout, mate.
Like Mick Dundee on walkabout, mate.
Come and see the bitter fruit of moral hazard being utterly trashed. Their "rules" no longer have meaning and rebellion is in the air.
How else to interpret taking a mans property for nothing?
Change you can believe in. Chaos sounds so appealing when you think you can win. That is why the Left pushes so hard for it.
It is going to get so bad, even a fucking low information voter will cry out in pain.
How else to interpret taking a mans property for nothing?
Which man's property is being taken? That is the question. The property is not ever taken from anyone who can prove ownership and who actually does so.
aye, that is the question: who really owns all these foreclosed properties? my guess is this is why the Fed is buying all these MBS's. they have a room full of legal clerks combing through them trying to put Humpty Dumpty back together again.
This has been an issue in Tarrant County that finally got the DA's attention.
http://www.kens5.com/news/179664971.html
http://www.star-telegram.com/2011/12/04/3568832/squatters-claim-more-tha...
Isn't on the radar in The Republic of Kardashia. Just wait after a year of 13.3% sales tax in California.
My father in law had a squatter at the apartments he rents. $5000 in fees, sheriff visits, repair bills (because they claimed the property needed repairs and no rent would be paid until done). Took her to court.
Called cops when he stopped by to talk. Process rolled on. 2 months later she thankfully left. He was lucky.
You guys are soft. I would show up at my squatters place with a box of hefty bags and a hacksaw.
Would take exactly one long night and local sanitation would even dispose for me.
To the softie that downvoted me, at least I didnt use an assault rifle.
Amirite?
That is what it so sad. Under law, you go down to reclaim your property and the whole weight and force of the law is on the squatters side. Democrats don't want the little guy to get pushed around. (like THEY are the under dog).
I'll be the boat docked out back was purchased with a HELOC on the house. ;-)
I'm waiting for the Bank of Assholes securities and evictor unit to arrive.
We need a TV show, "Squat That House!" that would follow the "Flip That House!" show every Saturday morning. Add to that, "This Old Squatter" and "Squatting Made Easy."
Soon "Squatting for Dummies" and "Idiots Guide to Squatting" will be NYT Best Sellers!!
Why not teach people to be Squatters? It's the New Paradigm.
I'd watch those shows, if only to stop people from telling me I don't know squat!
The discovery channel has a show that highlights these kinds of scenarios. These ex-Marines are property inspectors and they check on rental properties.
Sadly, like Storage Wars, it is unmistakably scripted.
how many of these "property inspectors" are doing what Loki is doing on the QT, ya think?
I watched "property virgins" once or twice. There was one episode where a couple had a first house, but moved, and wanted to get a second. They couldnt afford both. In the episode, the realtor constantaly pushed them to "pay the house" "wait for it to be sold", "Rent it out". There was never, "Short sale it", "let it foreclose". From then on, I believe the banks are funding some of these shows. They dont want word to get out. They dont want people to look at all options.
bingo
Perhaps the residents of this neighborhood would prefer it to be rented out to section 8ers?
In Amerika we have many laws but no rule of law. As such things will increasingly be done on the fly and improvised. We have to fucking rebuild from the bottom up now.
When I read stories like this, I ask myself : "just why in the fuck am I paying the mortgage on my hovel, when I could be living in style for next to nothing?" Gawd, sometimes I hate not being a dirtbag.
Peons like us fear retribution because we have things to lose.
The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage.
apathy to dependence to bondage......I'd say the banks were complacent 6 years ago. Dependence here we come...
There is a LOT of abandoned farmland around here, so, I looked into these laws some time ago.
Basically, adverse possession in Florida works only IF you pay the taxes. So, if the bank is NOT paying the taxes, you can possess the place by moving in and paying the taxes (for farmland you just fence it off, put up a sign, and put some animals on it), and then you can put a lien against the property for the taxes that you paid. The Lien needs to be paid to you, or next buyer can not get a clear title. This way you protect your investment (taxes paid on the property) while trying to adversely possess the place. If the bank IS paying the taxes, they own the place and can get you kicked out.
About the utilities, you can turn them on, no problem, don't need title lease or anything, just call FPL and notify the town about the water. They really just don't care, I do this all of the time when I buy a property and have never been asked for a lease or paperwork or anything of the sort.
clif high talked about this up in Oregon as well. guys would buy these tracts of land for cheap on leverage, clearcut the joint, and disappear. the counties are willing to give the land up for the payments of back taxes. the secret is to find which properties are owed back taxes.
I love he is pissing on the banks and pissing off the Tribe.
Tyler this story is great! I love the irony of this situation. Here's my take:
1.) BOA deserves to get Whacked but what this guy is doing is wrong. It is wrong in that he is taking property from someone else. I know this is BOA and what they did is wrong. Just wait until you start hearing about groups of people taking over someone's house while they are away. Ooops! I am too late: http://www.dailymail.co.uk/news/article-2026723/Gypsies-immigration-offi...
2.) This guy is likely an illegal immigrant. someone should contact ICE and ask they to make an inquiry. Or better yet, just walk up to him and ask him if he has an I-551 document. If he does not or asks what is that? He probably is. In the event that he says that he left it at home, lost it or some other lame excuse, tell him that the Alien Registration Act of 1940 requires that all legal permanent residents have to carry their identification on them at all times. Then if he starts to complain or he accuses you of racism, just tell him that you will have a nice, fresh I-862 form (Notice to Appear!) for him to carry along. The reason why I am bringing this up is because this is how immigration is now running in our country. Anybody and everybody will come in and take everything from you. Don't think it can happen, just wait!!!
Oh and here's my solution for this fracas: https://www.youtube.com/watch?v=2s1MspmfEwg See!
It is wrong in that he is taking property from someone else.
Who is that someone else? Which someone else's property is being taken? Let that someone else step forward and prove ownership of the property and said property will be promptly delivered to him.
Property is not ever taken from anyone who can prove ownership and who actually does so.
On the other hand, if no one can or will prove ownership - well, that is why we have adverse possession laws. It is a way of keeping property rights going, so that folks will have pride of ownership and keep abandoned property from falling into disrepair. At least that was the original intent.
"living beneficiary to the Divine Estate being superior of commerce and usury."
lol.
Loki boy is making a mockery of our so called "real estate market." Blown out pyramids of ponzi, the debris scattered all across the landscape, and he's getting a good laugh out of it. The neigbhors must be experiencing sheer panic wondering what this loki boy might be doing to their "property values."
Maybe they could bake some cookies and take them over and try to get to know their new neighbor first.
"On the day of Ragnarok, Loki's chains will break and he will lead the giants into battle against the gods. Loki is often called the Sly One, the Trickster, the Shape Changer, and the Sky Traveler."
We had one of these in our neighborhood.....druggie. We sent some K9 dogs in the doggie door to roust him out. Times like these the dirty tricks have to go both ways..we ain't all pussies in the fancy neighborhoods.
Yay, let's claim we're against socialism AKA slavery then cheer a story about shitting on property rights. Truly laughable.
see Richard's comment just above and ask yourself who's shitting on whose property rights.
What problems do some have with squatting? It is an old American tradition. The biggest squatter in history was the US government itself, when it claimed the land of the Native Americans.
i hope loki boy wins so he can change his name to lucky
Good luck to the kid, he's got big balls!
Partay timeeeee!!!
So technically can he strip the wiring and metals?
Back in the Great Depression cotton farmers who lost their farms would show up at the bank foreclosure auctions to buy their lands back. If anybody tried to get smart and outbid the original owner, they'd get ... discouraged.
Hopefully no one asks Loki Boy if he's here legally or not because that will cause widespread riots in western liberal shitholes like LA.
Look up the laws. It is not a crime to be here illegally. Being here may be cause for deportation, but being here illegally is not a crime.
He is lucky there is no height requiements for this law.
He didn't build that,,,,(house)
There might be a way for the banks to get a legally recognized title by not paying the taxes and buying it at a sheriff auction. They must not be able to carry the old mortgage on their books and may have taken a tax loss on it. Who ever got those MBS has probably written the investment off years ago. Even if the wet paper is located what good will it be?
Even if the wet paper is located what good will it be?
It will allow the actual owner of the property to be notified so that he can reclaim possession of it. But what happens when ownership has been split 11,000 ways? Any given owner can only claim 1/11,000th of the house. The adverse possession folks get the rest.
Occupy Boca
Occupy Buca. It's tastier. http://www.bucadibeppo.com/
Anyone know why this story was censored off the front page on ZH?
http://www.zerohedge.com/news/2013-01-24/its-official-worst-recovery-ever
It's on page 2. It was pinned yesterday so was visible on top, no matter how many newer articles Tyler added. When he unpinned it, it went back to it's normal place and entire page 1 was filled with newer stuff.
move FED building from NY to Boca Raton, Florida
"Steal This Book" by Free (aka Abby Hoffman or 1 of the other Yippies, I can't remember who exactly)
updated and edited for that 2013 feel
Fuck the banks, and fuck banksters
http://www.youtube.com/watch?v=bUJ4LGaTIaE
http://www.youtube.com/watch?v=bUJ4LGaTIaE
I am most amused by the neighbors' reactions. This kid just popped their ego bubble and they sound like petulant little children.
PS: In the story of Baldur's Death, Loki tricks Hodnur into killing Baldur using the only thing to which he is vulnerable - mistletoe, and exploiting the fact of Hodnur's blindness and perfect aim as an archer. In the story of Hermod's Hell-Ride, Loki, exploiting Hel's explicit condition that all living things must weep for Baldur, refuses, and thus, Hel is able to keep Baldur's soul imprisoned. Loki was not merely the god of Mischief. He was the god of Logic as well. Actually, a warning not to place all one's trust in logic. The message of his character is that logic, without reason (and the other virtues), is madness. A very, very apt nom de guerre for someone exploiting the logical madness of the legal system.
The house was sol on 09/27/2012:
http://www.zillow.com/homes/580-Golden-Harbour-Drive,-Boca-Raton_rb/#/homedetails/580-Golden-Harbour-Dr-Boca-Raton-FL-33432/46722602_zpid/
Coke and bitches for André the man!
Cock Bros Loss
http://www.independent.co.uk/environment/climate-change/exclusive-billio...
Similar laws involving squatters exist in the UK. Going down the legal route to evict them (most especially if weepy women & young kids are involved) can take a long time and cost a lot of money, with no certainty that the courts will order physical eviction.
One method of dealing with them has been to send in an anonymous gang of thugs overnight and physically remove them. Of course the legal owner denies any involvement in this.
I find it hillarious how 'free market supporters' quickly turn to thuggery and stalinist tactics when they realise they are too stupid and arrogant to admit their own mistakes.
Listen up moron - get landlord insurance (as all landlords should) and you're covered for squatters and all legals costs.
...rather than covering your mistakes up with criminal thuggery - or do you always make OTHER PEOPLE pay for your mistakes.
P.s. - Squatters don't move into properties which were occupied - maybe you should ask your deaily mail landlords why their properties were empty in the first place.
You insult my country by claiming to be a part of it.
So by your logic, I am not free to do with my property as I see fit? I must use the property for the public good (house people). I am not allowed to buy a house to have it unoccupied?
So by your logic - waste in a world with finite resources is a good idea?
What a fucking moron mate - you try to create a fantasy in order to justify the rights you feel you have over something which is not yours.
Ownership should be defined by use - otherwise my cocky friend - you will waste the resources of the planet - it also means that we canlive morali lives.
I mean - do YOU have a contract from the creator that you own any land?
No - then everything is 'borrowed' - which means you caqn use it - but you cannot stop other peopl using it when you're not.
Such a simple concpet - most 5 years olds grasp it - until their 'education' teaches them that doing the opposite is in fact morally ok.
...which is why you don't stop and think beyond 'yesterday' when barricading yourself in with 'property rights' - oh - specifially property rights from the 18th century in your case - as before that America was 'owned' by Britain, France, Netherlands etc.
You're way off the mark here boyo, jumping the gun and all that.
Firstly, how do you know that any property owner who uses such a tactic is a "free market supporter"? You don't. Was Rachman a "free market supporter"? Very unlikely IMHO.
Secondly, calling me a moron for pointing out that some owners use such tactics does not mean I condone it.
Did all that fly right over your head?
...you're obviously a socialist troll.
What? - a world with an UNREGULATED market for landlords - you bet your sorry arse he was a free market supporter. I suspect Rackham was very anti 'state interference' as it meant hs couldn't beat the shit out of his tennants when he wanted them moved on.
Who the fuck are you tring to kid? - it was a suggestion - do you think people needed to be informed of what they already know landlords do?
Yeah - and you are like most people - when confronted with the stupidity of their argument - they resort to bias and telling themselves "Oh - he's just a socialist" - which means you can write off everything I say - no matter how factual and reasoned it is.
Pathetic mate.
From your latest blather (to myself and the other commenter), you're not just a socialist troll, but a Hard Left one, stirred into a lather. You have some big problems there pal. Deconstructing your nonsense point-by-point isn't a good use of my time, so I'll bid you farewell. Have A Nice Day :-)
you can bet Loki is an Obama executive amnesty qualfied as long as he keeps voting Obama
...and not one person has identified there is something wrong in the balance of wealth in a society where a squatter canot afford a studio flat - but the neighbour can afford to simply by the adjacent mansion simply because she doesn't like the idea of her neighbours background.
(According to the article the squatter has caused no problems and broken no laws - indeed there do not appear to be any actual complaints about the squatter)
THAT is the real scandal in Americs - forget property rights - how about the fact there is a 2 or 3 tier society and that most of the people are in the bottom tier (although I bet they tell themselves they are in the higher tier!)
Most people miss the real story because they cannot bare to face the truth - it's not the squatter which is the problem - nor is it the banks - it's the inequality of wealth which for some foolish reason every American thinks he can breach - possibly because every American thnk's they are special - yes - all 300 million of them!!!
You will eventually all perish chasing your unobtainable dreams.
Property rights and gun rights are two of the things that make this country great my friend. The income disparity stems from a stagflation economy and a socialist centralist planned big government that is not condusive for small business...
Fuck Writingsonthewall. When you got no property, property rights are an impediment.
I'm sure like most free market fools you will advocate property rights - until you realise that your house is owned by another and you are on the street - which will of course be through no fault of your own.
Property rights are defined by USAGE - if you're not actively using part of the land you God bequeathed to ALL - then why should you have the right to prevent someone else usign it.
Your reliance on property rights and your ideals of 'liberty' are at a juxtaposition mate.
I.e. you're a hypocrite - liberty cannot be possible when a man is able to put a fence aqround a piece of shared land, claim it for himself - and then use the law to prevent others making use.
I suppose looking at American history - I could understandwhy you would feel the need to advocate the theft of property - as the Americans did from the native indians.
Now YOU'RE going to be the indian - and the banks are the cowboys.
Unlucky.
So you would line out the Declaration of Independence to read "Life Liberty, and Happiness"? Everyone should be guaranteed happiness?
lol.
And you know what things might even speed-up.
Imagine the big banks do finally go broke and before that happens all their files are destroyed to hide their crimes of the past and present.
Further a house that is owned by say 11.000 owners spread all over the world has no owner (well possible in case of a synthetic MBS).
Why in heaven should the initial criminal the bank (which is now taking care for the house by representing the imaginary owners which will never get a dime) get the house. The bank has the least right. In the opposite, this house was used to make crimes and fraud by selling MBS while knowing their are worthless. This house belongs to nobody, its just an evidence of a criminal case.
So Loki boy has my deepest sympathies. He deserves the house because he is living in it and he did nothing wrong about it.
A boy from Brazil had to come to show the Americans what is legally possible and how to do it. What a shame.
these inflated ego palaces having dead beats living in them.. well what has changed..if the dead beats had any get up and go they would sell off all the fixtures or rent out the place..hmmm an idea there
I wonder if the laws of salvage apply?
I don't see why the handwringing over private property rights. And in fact Tylers, you're allowing yourselves to be the banksters tool in this case.
Adverse possession or "squatters rights" have been around for a long, long time. The doctrine originated in Europe when entire towns would be devastated (plagues, invasions, etc). Naturally, when people abandoned a place, others would move in. And who really cared? The original owners were dead or long gone and not coming back. The problem arose when the 2nd cousin came back much later and said"that's my cousins land!" Rather than engage in perpetual pissing matches over land ownership, the doctrine of adverse possession arose. If someone lived on the property openly and notoriously for X years, it was deemed to be theirs.
And in this case while the local neighbors are not so happy about having the "riff raff" living next door, would they prefer a scenario where the property fell into complete disrepair? A house has to be lived in and maintained at a minimal level, or it completely falls apart. I've seen homes that were abandoned due to foreclosure that were absolutely splendid to start with be essentially destroyed in less than 4 years. The neighbors don't like the Brazilian. I guess then that they'd prefer rats and feral dogs and crack addicts?
And lets also get to the underlying issue here. Getting rid of a squatter is not all that difficult IF YOU CAN SHOW YOU HAVE TITLE TO THE PROPERTY! I'll bet that's the unreported story here: the bank is trying to protect a property interest that they can't even prove they have.
Read the article completely this time. The bank's probable lack of clear proof of ownership is stated. There is a place for you in my shed.
Congrats.
It seems much more likely that articles like this will have an effect contrary to the bank's interests. The more people become aware of these types of laws, the more they will be utilized.
Thanks ZH.
ZH is a little behind on this story...not used to seeing MSM and ZH releasing stories nearly simultaneously. See Kerry Sanders report from the Boca home.
I read this story some time ago on one of your sister sites....what gives ZH?
Seems to me that adverse possession laws strike at the heart of feudal systems enforced by king or government.
Get yours Loki...
Great way to save the USD 35k property taxes p.a.!
"Adverse possession is a principle of real estate law that gives anyone who possesses the land of another for an extended period of time in an 'actual, open, hostile and continuous' manner the right to claim legal title to that land."
I suspect that this will all be left alone because this is what the US will do in/with Afghanistan. (and other "occupied" countries).
At least the squatters might keep and maintain the properties. Can the same be said for the banks?