Think you can handle living with views of the Gulf of Mexico? Think you can find some senorita to share the hot tub, pool, or spa in this mansion?
All you have to do is find a home in Florida that you know to be vacant and foreclosed. File Adverse Possession paperwork with the local appraiser's office. Then you just need to live in the property for the next seven years.
THAT IS ALL (Please consult an attorney, do your own due dilligence and have a back-up plan)
At least that is what one guy seems to think in Boca Raton Florida. From the Orlando Sentinel:
Squatting in style: 23-year-old occupies empty $2.5 million Boca home
The 23-year-old has moved into an empty $2.5 million mansion in a posh Boca Raton neighborhood, using an obscure Florida real estate law to stake his claim on the foreclosed waterside property.
The police can't move him. No one saw him breaking into the 5-bedroom house, so it's a civil matter. (EMPHASIS...MINE)
And representatives for the "real" owner, Bank of America, said they are aware of the situation and are following a legal process. But the situation is driving his wealthy neighbors crazy. "This is a very upsetting thing," said next door neighbor Lyn Houston. "Last week, I went to the Bank of America and asked to see the person in charge of mortgages. I told them, 'I am prepared to buy this house.' They haven't even called me back."
barbosa, according to records, is a Brazilian national who refers to himself as "Loki Boy," presumably after the Norse god of mischief. He did not return calls. Someone with his name has been boasting about his new home on Facebook, even calling it Templo de Kamisamar. Barbosa also posted a notice in the front window naming him as a "living beneficiary to the Divine Estate being superior of commerce and usury." A spokeswoman for Bank of America said her company has sent overnight a complaint and an eviction notice to a clerk in Palm Beach County. "The bank is taking this situation seriously and we will work diligently to resolve this matter," said Jumana Bauwens for Bank of America.
Sunrise real estate lawyer Gary Singer said Barbosa is invoking a state law called "adverse possession," which allows someone to move into a property and claim the title — if they can stay there seven years.
Funnily enough I actually support this guy since the bank was owned by Bank of America and they have absolutely no idea who actually owns this house due to the Countrywide fiasco and Fraudclosuregate.
Also, A quick search tells me that California (the laws differ by state) is only 5 years, if you pay the taxes. Seems to me that one could easily make the taxes if you made a bunch of grow houses, but what do I know...
HAPPY FRIDAY MANIACS!!!
HAT TIP: ZEROHEDGE (BUT OF COURSE)