Detroit plot sells for $1 per sq in

[Joseph C. Krause]

Retroit, the statute you are referencing seems to state that it is fraud only if the money is used in a way that violates the written agreement between the parties. The Loveland deeds express that the transaction takes place "under Loveland rules and conditions". It's pretty clear that it's much more "game" than "really owning property with a real deed". Just like the way that those x-ray specs from the comic books don't emit x-rays.

[Meddle]

National news wires have picked it up:

Web designer sells Detroit lot for $1 per sq. inch

Feb 13 08:10 PM US/Eastern

DETROIT [[AP) - A Web designer is hawking square inches of an empty lot in Detroit for a dollar each to show what can be done with vacant spaces.

Jerry Paffendorf says nearly 600 "inchvestors" have bought some of the 10,000 plots for sale in the "Loveland" art-and-real-estate project on Detroit's east side.

The 28-year-old says he bought the lot for $500 and that profits are fed back into the project.

He says some inchvestors buy one plot while others have taken 1,000, and that they may do with the land as they wish. He says some plan to construct tiny buildings.

Paffendorf told The Detroit News that he is making a statement about what can be done with foreclosed property. He told the Detroit Free Press he will stream video of the site this spring.

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On the Net:

Loveland: http://makeloveland.com

Copyright 2010 The Associated Press.

http://www.breitbart.com/article.php...show_article=1

[princealbert]

I'm glad Jerry reminded me: I need to cash in my deed for the square inch of land I own in Black Oak, AR. I've always wanted to visit Jim Dandy's compound.