Account Closed  Very OLD news I had this happen to me in the middle 80's and this has probably happened since the invention of the deed... and the invention of the statues of fraud and forgery.. this is why Forgery is a covered event with your title insurance policies..

Is there another statue I am missing?

Beautiful but not durable finishes, like hardwood floors, marble countertops, tile with grout that needs to be sealed, and CARPET are not appropriate for rental housing.  

It appears to be legal because of the systemof "STATUES" we are in.

Look at Burnet and Marble Fall areas to the west and Manor, Elgin, Taylor to the east.  

@Jacob Marble - 5/20 means it's a 5 year term (refinance at new rate or pay off balance owed) with 20 year amortization. 15/15 means the loan is fully amortized over a 15 year period with no reset. 

So buying a $125,000 property for $22.45, as long as the owner is GONE, is fine... by statue.

The statue has not run.

I have laminate, cultured marble, corian/solid surface, and granite at various locations. 

@Ryley Marble Explain this to the tenant, and say that they will be evicted.