Real estate investor’s property sales hurt heirs and poorer homeowners

Emily Parkin

Five hundred dollars was all it took for Robert Perry Tucker II to gain an interest in an Asheville home that had been owned by a Black family since 1918. 

Two older heirs signed deeds selling their shares of the home to a Tucker company for $250 apiece. With their ownership in hand, Tucker’s company used a Reconstruction-era law to force a sale of the entire property, and another Tucker company bought it at auction for $3,750.

The eight heirs whose family had owned the property for a century received $445 each, the auction commissioner reported. The Tucker company that bought the property sold it in three months for $55,000.

Note: This is Part 2 of Asheville Watchdog’s three-part investigative series.Read Part 1 for much more on this topic.

https://www.citizen-times.com/story/news/local/2021/11/10/asheville-nc-real-estate-investor-forced-property-sales-poorer-homeowners/6330763001/

Next Post

Happy New Year, California: New California Employment Laws Effective January 1, 2022 | Fenwick & West LLP

Governor Gavin Newsom recently signed a slew of new bills into law at the close of California’s legislative season. Below is a summary of the new employment laws, all of which take effect on January 1, 2022. Wage Theft Will Trigger Enhanced Criminal Liability AB 1003 makes the intentional theft […]