Good day, my friend is currently renting a property, the landlord was served with a writt of excecution by the bank at the domicilium address.
The land lord did not inform my friend of the banks intention to reposess the property and did not give notice to the tennant.
is the land lord in breach of contract.
What rights does the tenant have.
1. He need to urgently seek new accomodation
2. the deposit may the landlord keep it or must it be refunded.
Thanking for assisting
Many people are considering taking advantage of the current economy and get rental property loans. One can get rental property loans from one's local bank.
When you inherit property, it becomes your property. The IRS will attach liens or garnishments on such property, including inheritances.
One can find information about obtaining mortgages for a rental property on various websites like HomeGuides and Realtor. One could also visit a local bank and ask for information about obtaining mortgages for a rental property int here.
As to the foreclosure of a property itself...(presuming they don't have rents/deposits or such received from the property), generally not involved. From any of the other financial issues your probably dealing with, that may even be allied to the property foreclosure.....at risk.
Any assets you have such as property, automobiles, bank accounts or wages.
The same way you get the loan for any property. You go to the bank and apply. They may have requirements to include incorporation, rental history for the property and other items you don't need for a home loan. You can also check with the Small Business Administration to see if any of their programs can help.
If by income, you mean the buyer's income, then the answer is no, the bank will not impute the property's income to you, since you do not yet own the property. If you are asking whether the bank takes the property's income *into account* when you are borrowing to purchase, then the answer is yes. Banks will lend based on the amount of income the property is currently generating.
Yes, you can submit to the lender a document called a deed of foreclosure. no
The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.
In most jurisdictions the bank can attach any other assets you have. They cannot attach assets you transferred LEGALLY prior to this action unless the transfers were made for the purpose of avoiding creditors. If that was the case they can seek a judgment to capture the property so transferred.
The attorney gives you some time to pay, then gets a judgment and uses the other legal options(garnishee wages, attach property, bank accounts).
Because creditors may garnish your taxes, your bank account, other financial accounts, and may attach other real property with a court order.