Man Pays $16 for House

Man Pays $16 for House

Even when times are tough, $16 isn’t a completely unrealistic amount of money for many people.  Well, we bet you didn’t know you could get a house in Texas for just that amount!  Hold on – don’t pack your bags and start moving quite yet.

Kenneth Robinson just sealed a truly awesome deal on a $330,000 house – for just under what you might expect to pay for lunch.  So, how did Mr. Robinson land such a deal? He basically paid $16 to file documents with the court claiming ownership and moved into the house.  By no means is this a normal process.  The house will be his in about three years.

Robinson did quite a bit of research before he moved in.  He found that the house had been in foreclosure for over a year and the mortgage company that held the house went out of business.  He was in luck!  When the three years are up, Robinson will take legal title of the house through what is known as “adverse possession,” a legal provision that varies between states.

Basically, Robinson is squatting in this house until the law says it is his.  Just a more fancy way of saying that he is practicing his squatter’s rights. Some legal experts claim that no matter what, Robinson likely won’t end up with the deed to the home and will have to move out in a few months.  But who knows?  We’ll be watching!

What do you think?  Should he get the house or what?

Lance Grooms