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Banks do not have any legal right to any personal belongings of homeowners in foreclosure cases. The loan is secured by the real estate, and the bank can only take back the real estate property.
The only exception is a type of loan that banks occasionally make that includes both the real estate and personal property, but this personal property is listed and specifically detailed. It comes with the original transaction and is covered in the original loan.
If a bank gets a deficiency judgment against homeowners, it may be able to seize some assets of the borrowers. However, these are somewhat rare cases, and the specific state foreclosure law procedures must be followed to obtain a deficiency judgment.
What else can I help you with?
Will homeowners insurance on your primary property cover items you were keeping in your uninsured second home?
ABSOLUTELY NOT!!!!
What does larcencie mean?
Larceny is another word for theft or robbery. It is the stealing of someone else's property or personal belongings with the intent on keeping them.
Will your homeowners insurance cover damage to your neighbors property caused by fire damage?
Generally no. The only time that your homeowners policy will cover property of anyone else is if you are legally liable for the damages. For instance if you started a fire on purpose for some reasonable need that got away from you and they neighbor demanded payment. In this case you turn it over to your insurance company which will decide how to proceed. You liability section provides coverage for damages and they will provide legal defense in addition to the liability coverage if necessary. I will caution you that liaiblity claims will make you typhoid Mary to insurance companies and you will not have luck getting or keeping homeowners insurance.
Is it legal in SC for a dealer to avoid property and sales tax on his and his wife's personal use vehicles by keeping them registered to the dealership and using dealer tags when the car is not actual?
Actually for sale?
In Rhode Island can you have an unregistered vehicle on private property?
Yes, in Rhode Island, you can have an unregistered vehicle on private property, as long as it does not violate any local ordinances or homeowners' association rules. However, it is advisable to check with local authorities, as some municipalities may have specific regulations regarding the storage of unregistered vehicles on private property. Additionally, keeping unregistered vehicles for extended periods can lead to potential fines or penalties.
What is an accountable property officer's bond?
An accountable property officer's bond is a bond executed by an individual who is charged with the responsibility of protecting and maintaining Government property, or keeping records for such property.
Is an executor responsible for anything missing from an estate property?
The executor has the responsible to maintain the estate. That includes keeping the property safe.
How do you remove a cosigner from property they bought together?
The loan must be paid off or refinanced and the co-owner must transfer their interest in the property to the person who will be keeping the property.
What are the underlying reasons for the law to continue to make distinctions between real and personal property?
The concept of real and personal property was developed in English Common Law. It centered on the distinction between movable and immovable property which was recognized in Roman Law. Real property is permanent. Real property is considered superior in dignity to personal property. In early America only landowners were allowed to vote. Real property must be transferred by deed and state laws control the passing of title upon the death of the owner when there is no will.In places where private ownership is allowed, a society must be able to document the ownership of real property and what happens to it when the owner dies. To meet that need modern societies devised systems of land records where transactions affecting real property are permanently recorded. The owner is the one who has the right to possess, use and enjoy the real property. That ownership is protected by law. Alternatively, the owner is responsible for the property and is the person who must pay the property taxes that help to maintain government services that are vital to any modern society.It is not necessary to maintain that degree of record keeping for all personal property although ownership of motor vehicles is tracked by a system of title certification and registration. It wouldn't matter if no one could determine who owned a bicycle left on the curb. However, if there was a deteriorating block of buildings in the center of town, or an old farm on the edge of town, the identity of the owner must be available.The public has no over-riding interest in the ownership of personal property and it eventually benefits when a person dies with no heirs-at-law or with abandoned or unclaimed personal property. In those cases, that property is eventually turned over to the state under the doctrine of escheatment.Personal property is any property that can be moved.Tangible personal property is property that has a physical form.Intangible personal property is property that does not have an intrinsic value but is representative of value such as securities, copyrights, royalties, goodwill of a business, life insurance and annuities.Real and personal property have become distinguished from one another over thousands of years. The differences are important and there would be no reason to discard them.
How effective is cicada repellent in keeping these insects away from your property?
Cicada repellent can be somewhat effective in keeping these insects away from your property, but its effectiveness may vary. It is important to follow the instructions carefully and reapply as needed for best results.
How helpful is Mvelopes when keeping track of a personal budget?
The product Mvelopes is very helpful when keeping track of a personal budget. It has a variety of tools that enable users to customize it for their own needs and save time.
How can I lower my property taxes?
You can lower your property taxes by appealing the assessment of your property, claiming any available exemptions, and keeping track of any changes in tax laws that may benefit you.
