27 Aug CASE STUDY 4 : The Man Who Had to Lose Before He Could Win, Mr. Lotto
While researching the Texas land records one afternoon, an ARP Partner noticed a property tax auction where the county sheriff auctioned off a man’s vacant lot and made a few mistakes in the process. We will call him Mr. Lotto. Sheriff tax sales often have errors because they go unaudited. ARP contacted Mr. Lotto and was able to strike a deal. The deal sounded simple but was complicated. If ARP was able to cause the year-old sheriff sale to be set aside and revert the ownership to Mr. Lotto, he would agree to sell the vacant lot to ARP. This was an obvious and easy choice for Mr. Lotto because he had written the land off already and he was wise enough to recognize that. ARP and its attorneys petitioned the County Court to set the sale aside and successfully vested Mr. Lotto in title to the land again. After that, Mr. Lotto cashed in his claim and took his winnings.