0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
If you file chapter 7 bankruptcy and are discharged can a creditor later put a judgment against you for a mortgage on property you surrendered to them when you filed the bankruptcy?
No. The creditor can foreclose on the property (and virtually always do) since that is the way they get your name off of the deed and someone else's name on it. And, during this foreclosure, they will list you as a defendant since you are the property owner until the sheriff sale takes place. But, when the judgment is rendered in the foreclosure, it should be an "in rem" judgment, which means against the property only, and not an "in personam" judgment, which means against you personally. If they do get an in personam judgment against you, it is usually a good idea to notify the court and let them know about the bankruptcy so they remove the in personam judgment.
What is an rem loan?
Real Estate Mortgage
Illustrate the jus in personam and jus in rem?
The law of contract is different from other branches of law. It does not lay down any rights and duties that the law will enforce. It contains the limiting principles on the basis of which the parties can create there own rights and duties which the law will up hold. Law of contract creates jus in personam and not jus in rem. Here jus in rem means the right against a thing at large and jus in personam means the right against a specific person. Let us see what happened in the following illustration: Mr. A owes an amount of Rs.10,000 to Mr. B. Here Mr. B has the right to recover this amount from Mr. A and only from Mr. A and not from anybody else. This right is known as jus in personam. To understand the Jus in rem let us see the following example: Mr. X owns 10 acres of land. Here Mr. X is having the full liberty to enjoy the land against every members of the public. Likewise every members of the public is having an obligation that they should not disturb the right of Mr. X. This right of Mr.X is known as Jus in rem.
If you have lived in your home for three years now without reaffirming your mortgage does your lender have any recourse if you walk away from this home?
Generally, no. If the debt was not reaffirmed, then the lender usually can only seek their judgment against the real estate (called an "in rem" judgment) by selling it, but if it does not sell for enough to pay the mortgage, they cannot come after you (with an "in personam" judgment) since the debt was not reaffirmed. However, if you dismantle the house, or trash the house, or something like that, then I would not be so confident there would not potentially be repercussions. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
What legal action can a creditor take if you have defaulted on your loan and the vehicle cannot be found anywhere?
"vehicle cannot be found anywhere? " NO candy for you...If you were the bank, would you believe that line?? Rem ,Cars DONT fall off the face of the earth. Spmeone's bbaby's mothers aunties boyfrined is driving your car. IF it was stolen, YOU would have reported it to the cops.Good Luck http://www.capitol.state.tx.us/statutes/cvtoc.html CHAPTER 31. JUDGMENTS SECTION 31.001. PASSAGE OF TITLE SECTION 31.002. COLLECTION OF JUDGMENT THROUGH COURT PROCEEDING SECTION 31.0025. AUTHORITY OF COURT TO ORDER TURNOVER OF WAGES SECTION 31.003. JUDGMENT AGAINST PARTNERSHIP SECTION 31.004. EFFECT OF ADJUDICATION IN LOWER TRIAL COURT SECTION 31.005. EFFECT OF ADJUDICATION IN SMALL CLAIMS OR JUSTICE OF THE PEACE COURT SECTION 31.006. REVIVAL OF JUDGMENT SECTION 31.007. PARTIES RESPONSIBLE FOR ACCOUNTING OF OWN COSTS SECTION 31.008. PAYMENT OF UNCLAIMED JUDGMENT SECTION 31.010. TURNOVER BY FINANCIAL INSTITUTION
What is Acting against property not person?
in rem
If you file chapter 7 bankruptcy and are discharged can a creditor later put a judgment against you for a mortgage on property you surrendered to them when you filed the bankruptcy?
No. The creditor can foreclose on the property (and virtually always do) since that is the way they get your name off of the deed and someone else's name on it. And, during this foreclosure, they will list you as a defendant since you are the property owner until the sheriff sale takes place. But, when the judgment is rendered in the foreclosure, it should be an "in rem" judgment, which means against the property only, and not an "in personam" judgment, which means against you personally. If they do get an in personam judgment against you, it is usually a good idea to notify the court and let them know about the bankruptcy so they remove the in personam judgment.
Name a Legal term directed against property?
in rem
Judicially directed against property rather than a specific person?
In Rem
Does judgment in rem prevail judgment in person-am?
No, they are different types of relief that can be given by the court. "In rem" refers to the object in dispute, and "in personam" to the litigant. A judgement in rem would be a declaration that a certain person is the owner of the property, but a judgement in personam might be an award of damages to be paid by the defendant for trespass, nuisance or some similar tort. Historically speaking, the ability of English courts of Law to make judgements in rem about certain property while the courts of Equity could make judgements in personam about the owners of the property led to the development of the concept of a Trust.
What does in rem judgment mean?
An in rem judgment is a legal decision that applies to a specific piece of property rather than a person. It determines the rights and obligations related to that property, such as ownership or liens, regardless of who the owner may be.
Is intellectual property a right in rem or right in personam?
Intellectual property is a right in personam: an infringement case would be brought by the rightsholder against the infringer.
Right in rem?
In rem \In rem\ [L.] (Law) Lit., in or against a (or the) thing; Note: used: (a) Of any right (called right in rem or jus in rem) of such a nature as to be available over its subject without reference to one person more than another, or, as generally expressed, a right competent, or available, against all persons. Rights in rem include not alone rights over physical property, but all rights available against all persons indifferently, as those of life, liberty, and reputation. (b) Of actions for recovering or reducing to possession or enjoyment a specific object, as in the enforcement of maritime liens against a vessel, which is made the defendant by a sort of personification. Most actions for the specific recovery of property in English and American law are in the nature of actions in personam against a person alleged to be unlawfully withholding the property.
What does in-rem mean?
in legal terms, its the type of lawsuit that has property involved instead of personal matters.
What is against a thing in law?
what is the word meaning "thing", in law
What does rem mean when your are crocheting?
Usually, rem would mean "remaining", as in, "for all remaining stitches" etc.
What is the term for jurisdiction based on the location of a piece of property?
In Rem Jurisdiction.
