My advice, and your insurance agent would agree- turned the 50-amp ganged
breaker off, and don't use that circuit, until you rewire it all properly.
If previous owner would do hillbilly crap like that, who knows what they did
where you haven't looked yet? I'd have a pro go over all the house wiring.


Agreed.... You have a dangerous situation there. The only
applications where a neutral would not be present is in situations
where only 240 volt appliances were used. But you would still need a
hard-wire ground back to your main panel.

Beachcomber