Squatter and the unclear house title

[TaraJo]

http://www.zerohedge.com/news/2013-01-24...ity-ensues

Remember the housing bubble? All these deeds and titles were swapped around and traded and bought and sold so much by so many people that it created a house of cards that our economy rested on. Well, even after the bailouts and everything, banks are STILL selling those titles back and forth. So a more creative squatter decides to use that to his advantage; he squats in the house openly. The title has been passed around so much that's it's proving difficult to evict him. Then he relies on an old law called adverse possession, which says he can have the property if he can move in and stay there at least seven years.

This is hardly unique actually, last time I was in Las Vegas, we found that tons of people were squatting in the houses that they used to own. The city had been so overbuilt that nobody had come to try to evict them. It's kind of strange to see it in the US, but in much of the rest of the world Squatting is normal. Some estimate around one billion people are squatters worldwide. I've seen cities in Panama where I'd say about 90% of people were just squatting.

It's also unusual because he's squatting in a 2.5 million dollar mansion and the legal system can't evict him; it's not that nobody wants to, it's that nobody can tell who the owner of the house is and therefore, they don't know who has the authority to evict him.