Someone In Texas Just Paid $16 For A Foreclosed Home Worth $300,000

Flower Mound Texas

Apparently, it pays to know Texan real estate law.

Kenneth Robinson, the new owner of a property worth around $300,000 in Flower Mound, Texas, cited the law of adverse possession to claim rights to the foreclosed home, which had been abandoned according to Texas’ KHOU.

The Texas statute allows people to claim ownership of properties so long as they abide by certain criteria, including living in the space publicly and without the former owners of the home, KHOU reports.

Robinson set up camp in the home’s living room, which he says gives him exclusive negotiating rights with the owner. And he filed some paperwork with the local courthouse at a grand total of $16. If he is still dwelling in the home in three years, he can ask the court for the official property title.

Of course, Robinson’s new neighbours are not too pleased. They are reportedly “talking to the mortgage company, real estate agents and attorneys.”

But since this is a civil case, officers can not arrest him.

So, for now at least, the home is Robinson’s.

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