Schwartz is right about Internet disclosure -- he just doesn't go far enough

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End to a scam.

This reminds me of something that was happening in central IL in the 80s. The state government required buyers looking to buy property for delinquent property taxes to notify intent to buy in any periodical with circulation over a given amount. So potential buyers published in the weekly free add paper that went to everyone. Who looked in the back of that to see if their house was about to be sold for back taxes?

One guy bought a piece of land in rural McLean County and built a house on it. The title company messed up and didn't find the back taxes that were owed on the land. So another company bought the property for back taxes (I believe it was around $2K) and published in the back of the add paper. The guy that bought the land had no clue that he had a problem until the sheriff showed up with an eviction notice. In the end the guy was out the mony he paid for the land and the money he paid to have the house built. The company that bought the property for back taxes got the land and the house for 2 grand. And... it was all legal.

Posted by: slopoke   Posted on: 10/03/06 You are currently: a Guest | Members login | Terms of Use

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