Real Estate & Property Law

'Extreme home takeover': Company uses poorly punctuated 'deeds' to claim title to foreclosed homes

It seems obvious that Presscott Rosche may not actually hold legitimate title to the dozen or so foreclosed homes to which the company has claimed ownership rights through poorly punctuated “deeds” and other documents filled with legalistic jargon filed by an “attorney in fact.”

But South Florida authorities have shown little interest in pursuing the company, which sometimes also spells its name as Prescott Rosch, according to the Miami Herald. And homes in foreclosure can present inviting targets to squatters, as they are left vacant both by owners facing foreclosure and by the banks that filed suit to obtain possession.

Although at least some of the deeds filed by Presscott Rosch appear defective on their face because they lack required signatures (other homeowners say their signatures have been forged), the deeds were still accepted for filing, the newspaper reports in an article about what it terms the “extreme home takeover.”

Owners who lack the money to hire a lawyer, or see little benefit in doing so when they are already at risk of losing their homes through foreclosure, seemingly have few options.

“I called the police and they said I didn’t own the house because I wasn’t in the records,” says owner Denis Gutierrez, 37, of his Miami area home, which is in foreclosure and being rented without his consent by Presscott Rosche. “I called the bank and the bank said it belongs to me.”

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