Video: The Loophole Adverse Possession Man Who Purchased House for $16 Has Been Evicted | SOURCE ONE NEWS
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Video: The Loophole Adverse Possession Man Who Purchased House for $16 Has Been Evicted

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    BY ALLYSON BROWN
    ANCHOR CHRISTINA HARTMAN

    After 8 months, a Texas man who paid $16 for a $300,000 house has been forced to move out. Kenneth Robinson used a loophole called adverse possession to move in to the abandoned home. Gizmodo explains how he got the house for 16 dollars.


    “… the house foreclosed, the original owner abandoned his mortgage and the mortgage company closed shop. All Robinson had to do was file paperwork at the courthouse saying he claimed ownership of the property. That cost all of 16 bucks.”

    ABC News interviewed Robinson at the time.

    “This is not a normal process, but it is not a process that is not known, its just not known to everybody”

    Bank of America acquired the property and foreclosed on it in January of this year — then asked Robinson to leave — but he didn’t. But a court date was set for Monday, and GoUpstate reports …

    300x250 RealtyTrac

    “Rather than wait to be evicted, Robinson slipped out before sunrise Monday, skipped a morning court hearing and refused to say where he was moving next.”

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    And because he didn’t show, Bank of America won.

    ” ‘The court has ruled in the bank’s favor. Mr. Robinson has six days to appeal, but he must pay an $8,900 — approximately $8,900 bond — to appeal,’ said David Orvand, attorney for Bank of America.”

    The AP reports Robinson had become a bit of a local celebrity — he wrote an eBook and created a website — 16dollarhouse.net — explaining how he got his living situation.
    http://16dollarhouse.com/

    And The Inquisitr says he was a hero to some, a pain to others — neighbors had complained about him living in the house.

    “…the fact that Robinson seemed to be gaming the very banks that caused the meltdown and the resultant pain experienced by so many Americans made him a bit of a folk hero to some- but others didn’t admire his actions as much.”

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