It looks like we have the makings of the next big real-life-tale movie after a Brazilian national has taken possession of a $2.5 million Florida mansion in pricey Boca Raton - and he refuses to leave.

The 23-year-old squatter has cited Florida's "adverse possession" law, which enables someone to take possession of vacant property by occupying the land and paying real property tax for at least seven years, according to an ABC News report.

The squatter has already filled the mansion with people, and has plans on making it an embassy.

Bank of America, which claims ownership of the foreclosed property, is working with police to remove the squatters - but the loophole law may mean that the gate-crashers can continue to live in luxury until things are sorted out in the courtroom.

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