You’ve got to give him credit: Kenneth Robinson has had almost nine months of free rent in a nice $330,000 Flower Mound home. But now, as most real estate experts predicted, that free lease may be running out. He’s heading to court next week for an eviction hearing in Denton county, where the courts may well boot him out of his free house for good.
Kenneth Robinson moved into 2205 Waterford Drive in Flower Mound on June 17 because the home was abandoned for foreclosure. His stroke of luck was that the mortgage company that owned it went out of business. After researching a Texas law called “adverse possession” Robinson moved in. Robinson claims he filled out an online form and then filed it at the Denton County courthouse for $16. This gives him rights to the house, he claims, since it was abandoned due to a foreclosure. I am still not sure how he actually obtained keys to the house.
The owner of the home, a William P. Ferguson, moved out of the house. The home was built in 1997 and has a swimming pool. Ferguson bought the 3910 square foot home in 2004 for $276,000 ish. The home is now valued at $328,000. Ferguson appears to have had a mortgage of $332,000. Which means he is underwater. The home was listed for $340,000 (reduced from $355,000) by KW agent Holly Hiller.
The mortgagor was San Diego-based Accredited Home Lenders, who went into bankruptcy May 1, 2009. The news that Robinson snagged a $330,000 home for $16 set off a flurry of squattings in Tarrant County. Robinson himself even gave a speech at SMU Law School and started charging to instruct others to follow his platform. Most of his “followers” were arrested or evicted.
As experts predicted, the final owner of the mortgage has surfaced. Bank of America says it now owns the property in question and is asking for Robinson to be evicted. The bank says it took ownership through foreclosure on January 3, 2012. BofA says it asked Robinson to leave, but he did not vacate the property. A court hearing on Monday in Denton County will likely determine Robinson’s future living arrangements. If he fails to appear, he will forfeit his claim to the house.