do I have to re-pay a first loan on property I am about to repossess ?
Friday, July 24th, 2009 at
5:40 am
The owner of the property I am about to re-possess has a loan to a building society/not a mortgage/as a first entry for colateral. the Court has decreed that I take possession in order to be repaid my loan? what are my rights please?
Sell House Quick
Related articles:
- Legal Issues in Repossession People facing repossession as well as those in the repossession business have a lot of legal issues to deal with. The laws regarding repossession vary from state to state,...
- Guide to Mortgage Arrears and Property Repossession People in todays society will have differing attitudes to debt and debt repayment. There will always be those individuals who take a very relaxed attitude to debt and debt...
- A Guide To House Repossession People in today’s society will have differing attitudes to debt and debt repayment. There will always be those individual’s who take a very ‘relaxed’ attitude to debt and debt...
- Definition of Foreclosure on Default of Payment of Property Loans Foreclosure is a legal term predominantly on the minds of many American homeowners. The average American family works hard to afford a home in which their family can live...
- The Repossession Process People in todays society will have differing attitudes to debt and debt repayment. There will always be those individuals who take a very relaxed attitude to debt and debt...
Tagged with: Building Society • mortgage • Possession
Filed under: repossess property
yes you have to pay it or get a new loan at this time
look at my site at for more.
if the building society has a loan to the indiviudal, and has a gharge on the property then they have first claim on the proceeds. A property search will indicate if there are any charges on the porperty
It smy understanding that if a charge exists and is registered then its first in the ques to get paid. You can probably sell the property (providing the BS agrees) – sounds messy
get proper legal advice as doing the wrong thing could cost you serious money. Ideally your legal move should force the debtor to sell the property and pay you and the BS out of the proceeds. UK property law can be very odd, especailly if the person or their family are in residence.
yes because you have to pay with interest at later date.
vraag een rechtskundig adviseur/een advocaat