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Claiming a Stake on Mansions

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Creative Commons License photo credit: chimpasaurus

Remember the days when you came to America and you could just claim a stake in a piece of property and it was yours? Well, I guess none of us actually remember those days, but we remember learning about it in history class. They even made a movie about it with Tom Cruise, Far and Away. There was a large race, and the first one to that parcel of land gets it. Dont we wish it was that way today? Well some people think that it should be that way, and they even push the envelope.

These people are squatting in, not just a house and land, but mansions. How about that? I guess if youre going to squat you may as well do it up right, right? There is a case in Seattle where a real estate agent was preparing for an open house to sell a $3.3 million mansion and was amazed to find out there were perfect strangers living there. Squatters! How funny to see this in todays society.

The real estate agent selling the house said it was entertaining, but the story of our mansion squatters ended when police retook control of the house for the bank that owned it. The fiasco cost his client, the bank, $35,000, not so funny now. The squatting team tried to claim three new mansions on the Eastside. Police say so far no one has moved into any of the houses.

The bank securely attached notes to the front door of all the mansions, "ordering anyone claiming ownership to surrender possession within three days." Also, threatening "judicial proceedings" against anyone who doesnt comply. Maybe we can hold a race for squatters, the first one to break a law goes to jail.

Read more from Calculated Risk, Finance & Economics




Posted on August 23, 2010 12:57:37 by Blog Author Scott.Shields
Scott.Shields
View my profile http://www.metrobrokerstv.com/claiming-a-stake-on-mansions

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