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Posted

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."

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

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Posted

Does he have to stay IN the house for 7 years for this law to take affect?

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Posted

He should have to pay the property taxes on the house. :p
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Posted

Was watching the story about this on Fox News yesterday, in order for him to keep the joint, he does have to pay $40,000 a year in property tax if he plans on staying there.

Every state has loopholes like this they are called "Homesteader's Rights" but they will only work if you can stay there for 7 years without eviction or fail to pay

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Posted

Funny I can see this being used on some government owned lands...then the law disappear.

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Posted

Is this "adverse possession" the same as [i]usucapio[/i]?

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Posted

I would think a house would have to empty at least two years, or outright abandoned, to take it over.

Whomever had 'ownership' of it should have at least rented it out, until the house could be properly sold.

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Posted

Personally I think this adverse possession law is idiotic and should be done way with.
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Posted

^ I'm just waiting till you default ... :shifty:

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Posted

Bit like our old Squatters 'Rights' thankfully this no longer exist, but it still happens.

If it was my property I'd pretend to be asleep, wake up think there a burglar then kill them, which is somewhat legal in UK now :)

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Posted

[quote name='Hum' timestamp='1359384695' post='595485254']
^ I'm just waiting till you default ... :shifty:
[/quote]

That's why I make sure i pay my bills on time. I'm afraid of you. :p

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