How a Miami man found $7.5M worth of unclaimed Florida property

A Miami man has found a $7,500-a-year rental home that he says belonged to his late father and had been in foreclosure for years.

The owner of the Miami home, Mark Kincaid, told ABC News he discovered it when he came home from work this week.

He said he had not known he had a home he did not own, but was surprised to find it had been listed for sale.

The property is on a peninsula in the Coral Gables section of Miami, and Kincaines wife, Mary Ann, bought it in 2002 for $4.9 million, he said.

Kincadis sister-in-law, Carol Kincahay, said she paid the mortgage with her own money and that the property had been on the market for more than two years.

Kincaid said he was surprised when he found the home, which has three bedrooms and four bathrooms, had not been on sale.

He was able to get the money to pay off the mortgage, but he still had to wait a few months for the house to be built.

“I was really sad because my son had just passed away, and the property was my dream home,” Kincafied said.

The house has three bathrooms, a living room, kitchen and three bedrooms, according to the listing on

It has been on loan since 2003.

Kancay said she is selling the house, which is about a half-mile from where she grew up in West Miami.