There is an upper middle class suburb on the outskirts of Dallas with the feel good name of Flower Mound. But for a few of the residents, it had become less than the Shangri-La they likely envisioned. You may have heard this story, about a homeless man named Kenneth Robinson, who took up residence in one of those Flower Mound houses. He was able to do that because the previous owners, unable to make their mortgage payment, and likely not having any equity in the home, like so many others, decided to abandon ship. And it didn’t hurt Robinson that the mortgage company went out of business either.
So with no one around to say, “What the @#$%^ are you doing in my house?” and no one around to call him up to say he was late on his house payment, Robinson, for lack of a better phrase, made himself right at home. Now, don’t underestimate Robinson. He’s not your typical squatter. After months of research, he used the obscure “adverse possession” law filled out some paperwork costing just $16, and began moving some of his stuff into the house. Yes, even homeless folks have stuff to be moved around. It’s what our society is built on.
Anyway, under the law, if someone moves into an abandoned home, they have exclusive negotiating rights with the original owner.
If the owner wants them to leave, they have to pay off the mortgage debt on the home and the bank has to file a complicated lawsuit to get them evicted.
But Robinson believed that because of the cost required to move him out, he would be able to stay in the house. Under occupancy laws, if he remains there for three years, he can ask the court for the title.
Robinson told WFAA.com: ‘I want to be owner of record. At this point, because I possess it, I am the owner.
“This is not a normal process, but it is not a process that is not known. It’s just not known to everybody.”
Robinson printed out an online form at the Denton County courthouse, which states that he is claiming ownership of the abandoned property.
According to the law, Robinson won’t own the house until he’s lived in it for three-years. He had put up “No Trespassing” signs and was marking off the 1,095 days on his calendar that stood between him and the great American dream.
As for his new neighbors, well, let’s just say he probably wasn’t on any potluck invitation lists. Not surprisingly, most want him gone. But there is nothing anyone can do about it. The police had refused to remove Robinson on the grounds that house occupancy is a civil matter.
So it was looking pretty good for Robinson and his neighborhood – that is until Denton County Justice of the Peace J.W. Hand ruled last week that lien holder Bank of America can force the 51-year-old squatter out. The bank foreclosed on the house last month.
So Robinson moved out early Monday morning, ending what he called a “huge learning experience.”
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Some experts seem to think we are looking at another spike in gas prices by 60 cents a gallon by as soon as May. Let’s hope they aren’t experts. Renewed tensions in the Middle East are strengthening crude prices, while speculators are causing a rise in futures contracts, betting on global supply disruptions and tighter refining capacity. And there are several U.S. and overseas refiners that have experienced temporary or permanent closures.
Thus far, $4 a gallon has proven to be the upper limit consumers will pay. Last April, national prices peaked at about $3.98 a gallon.
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On page 30 of the Feb. 3 issue of The Week there were two separate news stories that pertained to the same industry. In the first, it was reported that the 25 richest hedge fund investors earned more than $25 billion dollars in 2009. It also said that hedge fund investors pay a capital gains rate of 15 percent on their investments.
Then the second news brief was about a conspiracy of analysts and hedge fund managers to profit illegally through insider information on the trading of Dell common stock. The seven “circle of friends” used tips from a Dell employee to reap over $62 million in profits trading the computer maker’s shares. Bloomberg.com reported that Diamondback Capital Management says they will pay a $3 million fine and give back $6 million in illegal profits.