Man buys $330 000 home for $16

Discussion in 'General Off-Topic Chat' started by loco365, Jul 22, 2011.

  1. loco365

    loco365 GBAtemp Guru

    Sep 1, 2010
    In a process called Adverse Possession, a Texan man bought a house for only $16. News video below.


    Neighbors don't like the idea of buying an expensive home for so little, and they want him out.

    If you knew that you could buy a home like this, would you take advantage of it?

    Do you think it's fair that he bought such an expensive home for so little?
  2. Nujui

    Nujui I need something to do.

    Aug 12, 2010
    United States
    Well, if it was all fair and legal, then yes.
  3. Vulpes Abnocto

    Vulpes Abnocto Drinks, Knows Things

    Former Staff
    Jun 24, 2008
    United States
    I've been waiting on this story to come to GBAtemp.
    From what I've read the guy has to live in the house with no power and no water for three years before it actually 'belongs' to him. Not the easiest of things to do.
    But I'm all for sticking it to Big Bank Government.
  4. dickfour

    dickfour Banned

    Jun 20, 2011
    United States
    Buy some kerosine lamps and a chemical toilet and I'd be all set. For $16 yell yeah
  5. Sir-Fritz

    Sir-Fritz GBAtemp Maniac

    May 4, 2008
    Brisbane, Australia
    Wouldn't living in a house with no water be illegal though?
  6. Nebz

    Nebz The N00b

    Jul 1, 2010
    United States
    Rhode Island
    I had seen this a few days ago on WSHH. In my opinion, it seem all fair. The home won't actually belong to him for some time. Whether he lasts that long or not it still seems just fine to me.

    I understand why some of those people are upset since this man may seemingly be the owner of a home for $16 while they've payed or are paying thousands but damn... They should hop off a bit.

    Homie did his homework and I'm glad to see it payed off for him [​IMG]
  7. SinHarvest24

    SinHarvest24 Shiroyasha

    Oct 8, 2010
    Anywhere you think of me.
    I didn't catch the full story but i don't understand why he has to do that though.

    If you knew that you could buy a home like this, would you take advantage of it?

    Hell yeah, a house real fucking expensive.

    Do you think it's fair that he bought such an expensive home for so little?

    Well according to Vulpes, if the guy have to live in the house with no power and no water for three years. That's no easy task. Even still, if i think it's
  8. Zarcon

    Zarcon .:~Enigmatic Wanderer~:.

    Former Staff
    Nov 6, 2002
    Toronto, Ontario
    Living with no power or running water for 3 years is quite a feat.
    If he lasts that long and goes uncontested then he deserves the house.

    The neighbours may have had to pay hundreds of thousands of dollars with their hard earned money, but at least they got to come home to proper modern living conditions.

    This guy still has to work presumably and then comes home to a near empty house with no power or running water.

    sinharvest24: At the moment he only technically owns the house.
    The original owner who abandoned the place is still the owner so he can't go and activate the power and water so to speak.
  9. Joe88

    Joe88 [λ]

    Jan 6, 2008
    United States
    heres the full story
  10. DeMoN

    DeMoN GBAtemp Guru

    May 12, 2004
    United States
    So the original owner couldn't pay his mortgage and had to leave but the bank that issued the mortgage went out of business.
    Why didn't the original owner go back? There's no one to pay his debt to.
  11. shyam513

    shyam513 GBAtemp Regular

    May 26, 2010
    I don't see anything wrong with it - I'm all for sticking one to the banks. To be honest, if the law says he can do it, and it's not hurting anyone, why shouldn't he?
  12. p1ngpong

    p1ngpong Anti Switch Owners

    Former Staff
    Apr 18, 2008
    DS Scene
    Yeah I was thinking the same thing after watching that myself. In an ideal world the poor guy who lost his home originally, presumably because of financial trouble should just get his home back.

    I am curious as to how old this law is, every country has antiquated laws on the books that people who do a little research can exploit. Kudos to the guy for being smart enough to exploit the law that way, but at the end of the day he amounts to little more than a vulture. I would be all for his actions if the home was abandoned in other circumstances, but as it is he is just trying to profit through someone else's misfortune.
  13. Raika

    Raika uguu

    Sep 15, 2008
    Neighbors are jelly of him. Just move on, dammit.
  14. FireGrey

    FireGrey Undercover Admin

    Apr 13, 2010
    after all that time of living at the house with no water and electricity he would grow sick of the house.
  15. Creqaw

    Creqaw GBAtemp Fan

    Sep 10, 2007
    The Netherlands
    Well even then, he could just sell it and buy a cheaper one.
  16. Veho

    Veho The man who cried "Ni".

    Former Staff
    Apr 4, 2006

    There are similar laws about arable land. It depends on the country but basically if the owner doesn't claim or use arable land for a set number of years, it defaults to the state or the current occupant. So you can basically start growing lettuce on a patch of abandoned land (mind the zoning regulations), and in X years the land is yours by law (void where not valid). Same thing with houses, I guess.

    As for the original owner, he could have done the same, (had he known the law). Mortgage company goes bust, he moves back in, and in three years he gets the house without paying back the loan. But then he would be getting the stuff he paid for with the mortgage loan, for free. Would that be fair? Eh...

    And the neighbours are just jelly [​IMG]
  17. Depravo


    Global Moderator
    GBAtemp Patron
    Depravo is a Patron of GBAtemp and is helping us stay independent!

    Our Patreon
    Oct 13, 2008
    I wonder why the youtube uploader felt it necessary to point out the man was black. It's as if he's implying it would be fine if it was a white guy.
  18. ShawnTRods

    ShawnTRods GBAtemp Psycho!

    Mar 26, 2011
    United Kingdom
    If the Neighbors are jelly, just tell them to swap homes with him lol.
    No Electricity, No water?
    Fuck no -.-
  19. InuYasha

    InuYasha Professional Coke Fiend

    Dec 8, 2007
    United States
    Interesting to say the least but I do wonder about a few things...

    1.Can he run something such as a generator for power or is that illegal?
    2.What happens if the house gets burned down before the 3 years is up?
    3.Where the hell is he gonna take his showers for the next 3 years?
  20. Foxi4

    Foxi4 On the hunt...

    Global Moderator
    Sep 13, 2009
    Gaming Grotto
    There is nothing illegal about this whole matter and such laws are present not only in America. These laws are "with us" since Ancient Rome ("Usucaptio", "Longi Temporis Praescriptio."), and since most law codes are based more or less on Roman law, we stick with them.

    Res habilis + titulus + fides + possessio + tempus are the things necessary in this process, that being "a thing one wants to possess, law title, good will, posessions and time".

    The man is simply claiming ownership over something that has no owner, once he pays the court bills ($16) the building is lawfuly his by the time of 3 or so years.

    That's your interpretation. Jesus, I hate it when people point that out. When will people learn that skin colour is a characteristic like any other and saying that a black person is black is *not* offensive and doesn't imply anything. All it means is, d'uh, the person we're reffering to is black.
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