An elderly Alabama woman is set to be booted from the home where she has lived for 60 years after relatives and investors move to sell her 40-acre farm that could be worth up to $20 million to housing developers.
Corine Woodson, 84, is facing a forced sale of her property on Hamilton Road in Auburn, which is now worth around $20 million.
Her husband’s family purchased the 40.7-acre swathe of heavily-wooded land more than 100 years ago, and it’s now prime real estate thanks to the growth of the city over the 20th century.
But when his father died, the property was left to his children or their heirs – meaning dozens of people now have a claim to a share of the land.
The land was valued at $1.2 million some time between 2002 and 2004. This value has risen exponentially since as rich landowners moved in – and as the area developed into a college town thanks to nearby Auburn University.
Corine Woodson, 84 (pictured), is facing a forced sale of her property on Hamilton Road in Auburn, which is now worth around $20 million
An elderly Alabama woman is set to be booted from the home where she has lived for 60 years after heartless relatives and investors moved to sell her $20 million property (pictured)
Since the land where Woodson’s home sits isn’t divided into parcels but rather by percentage ownership – under a scheme called ‘tenants in common’ – when one owner wants to sell, everyone must sell. (Pictured: the plot of land in Auburn, Alabama)
Woodson’s tiny red-roofed bungalow is now dwarfed by ginormous Christmas card style mansions on neighboring plots.
Since the land where Woodson’s home sits isn’t divided into parcels but rather by percentage ownership – under a scheme called ‘tenants in common’ – when one owner wants to sell, everyone must sell.
In 2005, Cleveland Brothers Construction Company LLC bought the 4.1 acres owned by two of Woodson’s in-laws – Mary and Catherine, for an average of $150,000 for the two properties.
This gave them an initial 15 percent ownership of the 40.7 acres, and since then they have bought up even more relatives’ interests in the property up to a 49 percent ownership.
The firm is waiting for a court-ordered appraisal before it can purchase the entire land parcel under Alabama law.
Cleveland Brothers is allowed to do this because it came forward before a court deadline to propose its purchase. Woodson did not because she thought she already owned the property.
The land was valued at $1.2 million some time between 2002 and 2004. This value has risen exponentially since as rich landowners moved in – and as the area developed into a college town thanks to nearby Auburn University
‘I’d like to ask them, why? I can’t figure it out,’ Corine Woodson said. Thinking about and wondering about it, it’s not easy, I can tell you that’
Her daughter, Melissa Woodson, told the broadcaster she feels ‘naive’ and helpless to change the investment which is now underway.
‘I have even said, “Nobody can just put you off of your property,” and my family members have said, “No they’re not going to do that,” Melissa said.
‘We were, I guess, naïve or not up to par on the law based on that timeframe, but it’s happening right before our eyes. The sad thing is there is very little we can do about it.’
Cleveland Brothers Inc has said it will let Woodson stay on the property for one year after the sale is completed.