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Can a lender take possession of the property instead of selling the property he is forclosing?
Yes, a lender can take possession of the property instead of selling it during foreclosure, which is known as "deed in lieu of foreclosure." In this scenario, the borrower voluntarily transfers ownership of the property to the lender to avoid the foreclosure process. However, this typically requires the lender's agreement and may not be available in all situations. The lender may also choose to proceed with a foreclosure sale to recover the owed debt.
What else can I help you with?
Are you considering selling your rental property?
Yes, are you thinking about selling your rental property?
Who owns the house with mortgage and deed in different names?
The legal owner is the name(s) on the deed. The names on the mortage note are the ones responsible for the loan. However, sometimes the owner/mortgagor complicates the title to the property by selling it after they have granted a mortgage to a bank. In that case, the bank has a senior interest in the property. The grantee on the deed owns the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property by foreclosure.
What paperwork is required by a realtor when buying or selling a property?
When buying or selling a property, a realtor typically requires paperwork such as a purchase agreement, property disclosure forms, and any relevant legal documents like deeds or titles.
What are the steps involved in selling my rental property?
The steps involved in selling a rental property typically include preparing the property for sale, determining the market value, listing the property, showing it to potential buyers, negotiating offers, accepting an offer, completing the necessary paperwork, and closing the sale.
What are the potential consequences of selling a rental property at a loss?
Selling a rental property at a loss can result in financial loss for the owner, potential tax implications, and a negative impact on their overall investment portfolio.
Are you considering selling your rental property?
Yes, are you thinking about selling your rental property?
What is the minimum sentence for dealing in stolen property?
About the same as for the person who initially stole the property. Since you are selling known stolen property, one could face the same charges or more. See: http://pelleylawgroup.com/practice-areas/property-crimes/possession-of-stolen-property/
Can a real estate agent who is selling a property be the owner of the property?
Yes in many cases they are the owner of the property which they are selling.
What was Lil Wayne convicted of?
He is not in jail but he is awaiting sentencing for possession of firearms, he was also arrested in December 2009 after marijuana was found on two of his tour buses.
How can selling something to a pawn shop that turned out to be stolen get you charged for robbery if can't be placed at the crime?
Under 'party' or 'accessory' laws. More often you would be charged with possession of stolen property.
When serving a writ of possession can they come in my house when I'm not at home?
To cut to the chase, yes. When a writ of possession is being served, the Law Enforcement Agency will first post a notice to vacate, which will identify when they will take possession of the property (about a week after the notice.). When they take possession, the landlord or their agent will accompany or meet the Law Enforcement Officer (LEO). The LEO will ensure the peace, while the Landlord takes possession, if necessary the LEO will remove the tenant, then usually the landlord changes the locks. If the tenant is home, they will be ordered off the property, and removed if necessary. If they resist they may be jailed. If they return it is trespassing. If the tenant is not home, the landlord usually has a locksmith open the property and change the locks. If the tenant still has stuff on the premises which has not, and cannot immediately be removed, each state has procedures for storing left behind property, giving notice, time limits, and selling, or disposing of abandoned property.
What are the requirements for selling property in Australia?
Legal Property Documents and Property Valuation are general requirements for selling property in Australia. These two things are very important for the buyer who want to buy any house.
If a property owner owes taxes on a house can they put you out of the house?
It is the responsibility of the land owner to pay the property taxes. There are laws in every jurisdiction that allow the local government to take possession of property, after due notice, when the owners are delinquent in paying property taxes. The tax taking procedure provides a means for taking legal title to the property and selling it to a new owner.
What is real property selling price?
Real property prices will vary depending on many factors such as location, size, and condition of the property. The selling price could be thousands to millions of dollars.
Is selling a stolen firearm for drugs a separate charge?
You need a lawyer to get a legal, correct and current answer.Added: The answer is yes. Selling an item known to be stolen is against the law, and it is against the law if you buy illegal contraband with the proceeds (i.e.: Two charges: onefor dealing in stolen property - two for possession of narcotics.
Who owns the house with mortgage and deed in different names?
The legal owner is the name(s) on the deed. The names on the mortage note are the ones responsible for the loan. However, sometimes the owner/mortgagor complicates the title to the property by selling it after they have granted a mortgage to a bank. In that case, the bank has a senior interest in the property. The grantee on the deed owns the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property by foreclosure.
May a foreigners be arrested in Philippines for selling a property that is not his owned property?
It is a crime and they could be arrested.
