Corine Woodson, 84, of Alabama, is facing eviction from her home of over 60 years after investors attempted to purchase the 40-acre property owned by her family, which is potentially worth $20 million.
The decision to sell the land was made due to shared ownership within the family, forcing Woodson to leave her long-time home on the outskirts of Auburn. She expressed her confusion about the upcoming eviction and inquired about the grounds for it. Despite her curiosity, she claimed that the complexity of the issue had increased her perplexity about what was going on.
The 40-acre plot, which is jointly owned by many family members with percentage ownership, has a long history. According to the New York Post, Woodson inherited her home on the property from her late husband, whose family has owned it since the early 1900s.
Certain “tenants-in-common” want to sell their stakes in the collectively owned land. In this system, when one owner decides to sell, it triggers a collective sale, allowing investors to purchase the desired acreage in the burgeoning Moore’s Mill neighborhood.
Cleveland Brothers Inc. has actively participated in this process, progressively buying out various family members, and now owns 49% of the prized property.
As a court-ordered appraisal is ongoing, Cleveland Brothers Inc. could potentially purchase the entire disputed property. Willie Woodson, Woodson’s wife of over 50 years, died recently, complicating the ownership situation even more.
The family has come to the conclusion that the land cannot be divided evenly. Melissa, Woodson’s daughter, claims that her mother is being denied the opportunity to acquire the entire land because her late father did not express such purpose explicitly.
The present worth of the site has yet to be determined by the continuing evaluation, although adjoining two-acre parcels are apparently selling for $500,000 each. According to estimates, Woodson’s 40 acres could be worth close to $20 million.