The $16 Dollar House

HairyKnuckles May 8, 2012

Squatter? Degenerate? Genius?

Many terms can be used to describe Texan Kenneth Robinson, but he may not care about any of them, because he was able to snag a $340,000 property in Dallas for the cost of a simple claim form, citing a little known law called “adverse possession”. According to Robinson, had he lived in the foreclosed house (aka squatted) for more than 3 years, he had the right to appeal for possession.

But wait! Could it be?! He got thrown out on his ass by Bank of America? According to some real estate experts, Robinson interpretation of the law is completely wrong and he is typically required to squat for upwards of 10 years before “adverse possession” takes effect. So, when BofA came knocking, Robinson snuck out before sunrise as quickly as he arrived, not disclosing his next “residence.”

Perhaps, he shouldn’t have brought it to the attention of the masses by trying to sell a book on the subject and launching a website (16dollarhouse.com) instructing others on his “methods”. Perhaps, if he had kept a low profile he would continue to live the good life for pennies on the dollar, but as is the norm in our society, he wanted more. He wanted to leverage his situation to make more money and in doing so, lost what could have been the steal of the century.

Call it greed. Call it narcissism. Call it stupidity. Call it what you will, but everyone’s favorite squatter is now out on the prowl looking for another neighborhood to make his own. So, keep your eyes open, the next house may be next to yours.