Ed Lindsley of Virginia Beach died last week, leaving a colorful legacy of opportunistic land acquisition. He was 84.
Apparently relying on a legal education and years of real estate experience, Mr. Lindsley (right) would pore over land records looking for mistakes and oversights that he could exploit. In 1986, the city of Virginia Beach paid Lindsley $400,000 to end a 20-year dispute over ownership of a one-mile stretch of Ocean Park beach. He employed a favorite tactic – buying the assets of defunct companies that developed Virginia Beach in the early 1900s.
Apparently such tactics were profitable. Mr. Lindsley spent his later years struggling with family members over control of his $5 million estate.
By Peter Vieth