The Man Who Paid 16 Bucks for a $330,000 House Got Evicted

Kenneth Robinson, an American hero who found a loophole in the system to buy a $330,000 house for 16 bucks, has sadly been evicted from his "house" because Bank of America claimed ownership of the property. Dammit. Does that mean there really aren't any shortcuts in life?

Kenneth Robinson lived in the house for only (only?) seven months before the courts came a knocking telling him to leave. Robinson, to his credit, understands that the law isn't with him in this situation so he'll leave without incident, telling the Dallas Observer:

"I'm just thankful for Flower Mound and Denton County for following the proper lawful procedures," Robinson says. "I went in doing this strictly by following a lawful process." And now that the process has played itself out, he says, "I'm neither happy nor disappointed."

Remember, Robinson took advantage of the little known law known as "adverse possession" where one can move into an abandoned home and have exclusive negotiating rights with the original owner. If the original owner wanted the 'squatter' to leave, the owner would have to pay off his mortgage and the bank would have to file a lawsuit against the squatter to get him evicted. If that doesn't happen, under Texas occupancy laws, Robinson would have had the house if he stayed there for three years.

Well, Bank of America stepped up and claimed ownership of the house and wants it back so now Robinson is out. I guess we all still have to work hard to buy a house now. Boo. [Statesman, Dallas Observer via Consumerist]