Man buys $330 000 home for $16

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

Jul 22, 2011

Man buys $330 000 home for $16 by loco365 at 3:01 AM (5,128 Views / 0 Likes) 63 replies

  1. loco365
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    Member loco365 GBAtemp Guru

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

    [youtube]DpqKIzxiixc[/youtube]

    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

    Member Nujui I need something to do.

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    Well, if it was all fair and legal, then yes.
     
  3. Vulpes Abnocto

    Former Staff Vulpes Abnocto Drinks, Knows Things

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    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

    Banned dickfour Banned

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

    Member Sir-Fritz GBAtemp Maniac

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    Wouldn't living in a house with no water be illegal though?
     
  6. Nebz

    Member Nebz The N00b

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    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

    Member SinHarvest24 Shiroyasha

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    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 fair...no.
     
  8. Zarcon

    Former Staff Zarcon .:~Enigmatic Wanderer~:.

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    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

    Member Joe88 [λ]

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    heres the full story

    http://www.9news.com/news/sidetracks/20921...r-330000-house-
     
  10. DeMoN

    Member DeMoN GBAtemp Guru

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    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

    Member shyam513 GBAtemp Regular

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    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

    Supervisor p1ngpong Legit Boss Harold

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    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

    Member Raika uguu

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

    Member FireGrey Undercover Admin

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

    Member Creqaw GBAtemp Fan

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    Well even then, he could just sell it and buy a cheaper one.
     
  16. Veho

    Global Moderator Veho The man who cried "Ni".

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    Eh...

    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 Depravo Jaded curmudgeon

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    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

    Member ShawnTRods GBAtemp Psycho!

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

    Member InuYasha Professional Coke Fiend

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    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

    Reporter Foxi4 On the hunt...

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    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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