by Nate Wooley | January 25, 2013 1:09 pm
A Brazilian man, who refers to himself as “Loki Boy,” has moved into an empty Boca Raton, Fla., mansion.
The man, whose real name is Andre Barbosa, occupies the foreclosed waterfront mansion that’s worth $2.5 million, Fox News is reporting. Barbosa has posted a notice in the front window defining himself as “living beneficiary to the Divine Estate being superior of commerce and usury.”
Barbosa is using an obscure Florida law called “Adverse Possession,” which allows anyone to occupy an abandoned property and claim title if they stay there for seven years. Bank of America (NYSE:BAC), which holds the deed on the property, can’t file a criminal complaint because there are no witnesses to Barbosa’s breaking into the home. A spokesman for BofA says that the bank is pursuing civil litigation to remove Barbosa.
That’s not fast enough for Barbosa’s new neighbors, however. One neighbor, Lyn Houston, told Fox News: “This is a very upsetting thing. 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.”
Source URL: http://investorplace.com/2013/01/brazilian-man-squats-in-2-5-million-florida-home/
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