clock menu more-arrow no yes mobile

Filed under:

Woman Devises Genius New Real Estate Business, Collects Rent on Homes She Does Not Own

Working with a limited understanding of common law and substantial chutzpah, an enterprising Georgia woman is building a rental property portfolio by squatting in foreclosed homes owned by banks. The principle of adverse possession is a highlight of first-year law student trivia, inspiring both daydreams (and some nightmares) in many a gobsmacked law student. Apparently Susan Weidman learned about adverse possession from the internets, and upon identifying foreclosed homes with title issues, simply moved furniture into them and declared them her own, even renting one out to a tenant. One problem: the title issues on the homes were unknown to the real estate agent trying to sell them for the bank, who got the authorities involved. When they began to investigate, some fishy details began to emerge, like the fact Susan Weidman was represented by a fake law firm with a fake attorney whose name and signature bore a strong resemblance to Weidman's. Channel 2's website has the whole story with some entertaining video.

· Woman renting homes she doesn't own []