This is actually kind of awesome:
The 23-year-old has moved into an empty $2.5 million mansion in a posh Boca Raton neighborhood, using an obscure Florida real estate law to stake his claim on the foreclosed waterside property.
The police can’t move him. No one saw him breaking into the 5-bedroom house, so it’s a civil matter. And representatives for the real owner, Bank of America, said they are aware of the situation and are following a legal process.
But the situation is driving his wealthy neighbors crazy.
“This is a very upsetting thing,” said next door neighbor Lyn Houston. “Last week, I went to the Bank of America and asked to see the person in charge of mortgages. I told them, ‘I am prepared to buy this house.’ They haven’t even called me back.”
Hey, Lyn, welcome to our world! The Bank of America doesn’t call anyone back!
Barbosa, according to records, is a Brazilian national who refers to himself as “Loki Boy,” presumably after the Norse god of mischief. He did not return calls.
Someone with his name has been boasting about his new home on Facebook, even calling it Templo de Kamisamar.
Barbosa also posted a notice in the front window naming him as a “living beneficiary to the Divine Estate being superior of commerce and usury.”
A spokeswoman for Bank of America said her company has sent overnight a complaint and an eviction notice to a clerk in Palm Beach County.
“The bank is taking this situation seriously and we will work diligently to resolve this matter,” said Jumana Bauwens for Bank of America.
Sunrise real estate lawyer Gary Singer said Barbosa is invoking a state law called “adverse possession,” which allows someone to move into a property and claim the title — if they can stay there seven years.
A signed copy of that note is also posted in the home’s front window.
Before any of your local readers get bright ideas, keep in mind that the adverse possession period in Pennsylvania is 21 years. 7 years is doable– there have been squatters in the UK who’ve pulled it off. 21 is probably another matter– keeping “open, hostile, and notorious” possession of a house for 21 years, even with all of the backlogs in foreclosures, sheriff’s sales, etc., is pretty friggin’ difficult.
Didn’t I read somewhere that OWS was undertaking a similar initiative? I think it’s great. Any chance to fuck with these real estate frauds makes me chuckle.
What a hoot. Adverse possession isn’t a recognized defense to breaking and entry. Tne claim of right element is going to be hard to meet for dear Loki boy.
Wouldn’t the smart method be to seek out the houses where there is no clear title, where the banks really don’t have the legal documentation they need to sell the property legitimately?
Hey – be the first on your block to start a little sideline business finding out which properties lack clear title and selling that information to resourceful squatters.