Posted by: phillipsre | February 4, 2013

Squatter Moves In and Takes Possession of $2.5M Home

The housing crisis brings up some very interesting stories, like this story from Time, a 23 year old Brazilian national that has taken possesion of a $2.5 million dollar home in Florida. Because of a legal covenant called “adverse posession” he is able to fight his battle to maintain the site because it has been vacant and now he is paying the real estate tax. For obvious reasons, the neighbors are not pleased with this situation and the officials in Florida are doing what they can to move him out of the property. But it does bring up some ¬†discussions, the fact that adverse posession cases with squaters and vacant homes have been becoming more apparent during this housing crisis shows that these squatters are smarter than we think and they understand the laws and their rights. With all these vacant houses the banks are losing money every day the house sits empty, at least this guy is paying the taxes!

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