A British man is able to keep his home even though he hasn’t made a mortgage payment since 1993. An appellate court has awarded him “squatters rights.” Apparently the guy and his wife took out a second mortgage way back when to cover business debts, but they soon couldn’t afford to make payments and went bankrupt. By 2006, he was threatened with losing his home. But under British law, if a lender doesn’t act within 12 years, you’re free and clear!

Lawyers for the lender are concerned the ruling by the court will hurt struggling homeowners because it will force lenders to act earlier, rather than later, to avoid losing their investments. The judges involved think that’s an exaggeration, though the Daily Mail reports “Lord Justice Mummery said the outcome of the case would be ‘of considerable interest to mortgagees and mortgagors in general." Lord Justice Mummery! A name worthy of Dickens!