The Home Repossession Process

Home Repossession Process

Whenever you fail to keep up with the payments on a loan secured on your property, there is always the risk that the lender will take legal action to evict you. The process has a number of stages and can last a few weeks to a few months or longer. There is the possibility of stopping the process at any stage, so never think that it’s too late to bring your mortgage payments up to date. Remember it’s in mortgage companies’ interest to keep you in the property and paying the mortgage off; they will only turn to eviction as a last resort. The earlier you take action the more options you will have and the less you will have to pay in legal costs. There are special rules about the procedures that must be followed at each stage – if they are not, you may be able to stop or delay the repossession.

Reasons for Repossession

There has to be a sound legal reason to repossess your property. In most cases this will be that you have not kept up with the mortgage payments. A rarer case would be when a leaseholder would evict a freeholder for not paying rent or service charges. This is unusual, however.

The only other way in which you can be made to leave your home is if the Housing Executive or another public body makes a ‘ compulsory purchase order’ to buy your home. This normally only happens if a major local development, such as a road widening scheme, is planned. If you are in this situation you will be entitled to compensation.

Notice from your Lender

In the first instance, the lender would write to you asking that payments be brought up to date. A letter from the lender’s solicitor may come through threatening court action if the issue is not resolved. The next stage would be to write to you advising that a court order for possession has been applied for.

A Summons from the Court

The court will write to you telling you when a hearing is to take place. This is called a summons. When you hear from the court, if you have not already done so, you should get advice immediately about what to do next. It is very important to reply to the court. Failing to reply can harm your case. You should find a solicitor to represent you in court, as they can help you prepare for the hearing and to develop a defence.

The Hearing

At the hearing, the judge will hear from you and the lender and come to decision about what should happen next. Some of the options open to the judge include: allowing you to stay in the property provided you keep to certain conditions, such as repaying the arrears in instalments; giving you time to sell your property to avoid repossession or deciding that you should be evicted.

The Court Order

If the judge decides that you have to leave your home, the court order will set a date for you to leave. If you have not left by that date, your lender must apply to the Enforcement of Judgments Office before you have to leave your home.

Legal Methods Foreclosure Victims can Use to Save Their Homes

Legal

It is no secret that large mortgage lenders and mortgage servicing companies function more like enormous government bureaucracies than anything else. In such environments, mistakes are bound to occur, either by fraud or incompetence. Homeowners who have had foreclosure proceedings unjustly initiated against them, though, should know some legal tactics they can use to fight back against the process, whether they are actually behind on their mortgages or are the victim of a tragic mistake.

In most foreclosure cases, it would probably be best for the homeowners to hire an attorney to file any necessary paperwork with the courts. The main reason for considering this is that every state and county and court has its own rules of evidence and rules of procedure, and not following these rules can mean the homeowners’ paperwork is thrown out on some technicality, which would allow the bank to continue the unjust foreclosure. Getting the paperwork right and following the procedures correctly can mean the difference between winning and losing the case and winning and losing the home.

But one legal action may be getting an injunction against the bank for any further foreclosure proceedings until a hearing is scheduled to determine the merits of the case. This prevents the bank from trying to collect further payments, send representatives to drive by the house, send appraisers to determine a value, or ask the sheriff to change the locks. In effect, it protects the homeowners from further loss or harm during the legal process of foreclosure.

Also, filing a motion to dismiss the case for a failure to prosecute would be another tactic that could be used. The homeowners should take the paperwork they have that shows the loan was paid in full, including the final payment (either canceled check or confirmation number for online payment), or paperwork showing a repayment plan has been established and is current and speak with the judge presiding over the case. The judge can determine there is currently no legal basis for the proceedings and throw it out of court without it ever going to trial.

A final legal action is for the homeowners just to file an appropriate answer with the court to the lender’s complaint laying out the reason for the foreclosure proceedings in the first place. The judge will have to take into account the fact that the homeowners are claiming the loan has been paid on time or are working with the lender to resolve the situation and have submitted evidence to prove that point. But foreclosure proceedings can not be started against a homeowner who is paying the mortgage on time, regardless of how corrupt or incompetent the bank is acting. And many banks will simply keep going after the foreclosure, even if they have been shown there is no legitimate basis for it, so homeowners should be comfortable with having to answer the bank’s claims in front of a judge who can make a legal decision.

But again, these actions should be taken only if the homeowners understand the rules of the court. If they do not understand the rules, then they may want to hire an experienced attorney to file the paperwork for them, or to show them how it should be filed. Attorneys can be hired as “coaches,” in some cases, just giving advice on how to file motions and argue cases. That might be appropriate for some homeowners who wish to defend themselves in court, but can not afford the higher fees of having the lawyer take over the case completely.

Legal Advice on Selling Your House

Property Sale

Legal Advice on Selling Your House from experts can save a lot of labor on your part. It is not an easy task to set the price for your house, find out prospective buyer, negotiate the price of the house or property you want to sell and then to sell it. At times it is not possible to buy or sell your property, specially a house on your own as all the long drawn process of setting the price for the property, advertising for it, negotiating with the buyer and then selling it takes a lot of time and it is quite difficult for layman to do all these things in an organized way.

Once you hire an agent for selling your house he helps you in setting things right. But before all these the most important thing you need to do is taking legal advice on selling your house.

Before deciding the selling price of your house it is necessary to have legal advice on selling your house. You or your agent may have a better idea of what should be the ideal price of your property, but you may not know what the proper way to get the payment from the buyer of your house is. The legal advisor can help you knowing the right way to get the installments of payment from the buyers of your house.

The proper time of selling your house can decide a lot of things; especially how much benefited do you get after selling the property. Legal Advice on Selling Your House can help you in finding the best bargain for you. More over, they can tell you what is the exact time to sell you house. After all; your house is your asset, a source of money, since sold in a proper way. The Legal Advice on Selling Your House lets you know what is the correct time to sell your property. It must be sold at the time when there is a pool of potential buyers at the market.

There are several factors that have a direct bearing on whether somebody would like to buy your property or not. There are certain factors like, lower or higher rate of crime at the area the house you want to sell is located. Usually there is an 8 to 10 weeks gap between the buyer agreeing to pay a certain amount for the property they want to buy and the acceptance of the deal on the part of the buyer. The whole process of fixing deals related to the buying and selling of house and the completion of the deal can take quite some time. But if the entire process takes unusually long time due to some legal constraints, then the legal advisor for selling the house can help you out. Legal Advice on Selling Your House are in fact designed to reduce your trouble in fixing a deal for selling your house and get the best deal out of that.

Find A Real Estate Lawyer – Role Of A Lawyer In Property Sale

Lawyer In Property Sale

If you are selling your property, you must find a real estate lawyer to be equipped with precise legal support to handle legal issues involved in the sale. Buyers appoint their own lawyer, so make sure that you have reinforced your legal position with an experienced and proficient real estate lawyer or attorney. When you are searching for a lawyer, you must check out his profile, cases handled and resolved by him, his credentials, profile of the law firm in which he is practicing and many more factors. The easiest way to look for a best real estate lawyer would be to go through online real estate lawyer sites, rather than looking around in your vicinity. Checking track records and credentials of a lawyer becomes easy task through websites of the law firms and individual legal consultants.

Job Of A Property Seller’s Lawyer

Although there is no distinctive function or job defined for a lawyer taking care of legal issues in the sale of a property, such a lawyer usually performs the following tasks to help you in property sales –

1. He/She will draft and review sales contract
2. Ensure title of the property and the documents pertaining to the property are properly included in the sales
3. Revise mortgage information and re-calculate transaction to ensure that those are correct
4. Revise tax bills related to the property
5. Adjustment of dates for utility costs, condominium costs or municipality costs
6. Assessment of the amount of due refunds, if any
7. Drafting statement for adjustment
8. Drafting transfer deeds
9. Taking care whether their clients are able to deliver title to the buyer, when the sale is closed.

Documentation Asked By A Real Estate Lawyer From His Clients

As a seller, you are required to keep ready some essential documents if are about to find a real estate lawyer. Following are the documents your lawyer would require –

  • Latest tax bill issued on your property
  • Last year’s utility bills on property
  • Mortgage details
  • One copy of the offer accepted by buyers
  • Transfer documents on the property since when the property was purchased
  • Additional relevant records which prove that you are the owner of the relevant property.

Fees Charged By Real Estate Lawyer

As you close a property sale deal, be prepared with some payments. Find a real estate lawyer to take care of these payments, including real estate attorney fees. You must keep aside a portion of your profit for insurance, taxes, liens and assessment, escrow charges or charges for title insurance, inspection fees etc. Your real estate lawyer may charge you commission and transaction fees.

When you are trying to find a real estate lawyer, the best option that comes to one’s mind is an online real estate lawyer. When selecting an attorney for property related issues, important criteria for selection are qualification, experience and real estate lawyer fees.

How to Work With Your Intellectual Property Lawyer

Property Lawyer

In many small businesses, intellectual property is an overlooked asset. The goodwill from your company name, computer programs you have written, articles, manuals, or books that you have written, logos, advertising copy, methods you have used or processes to create your products or services, all should be closely examined in conjunction with a qualified intellectual property attorney, to decide how much value they are to your business, and how they should be properly protected.

There are many different disciplines under which your intellectual property can be protected. These include copyright, trademark, trade secret, method patents, design patents, product patents, and others. You can also consult with your intellectual property attorney to decide whether or not to extend your intellectual property protection world wide, or just keep it national.

If your business could be impacted by competitors copying your name, your logo, your products, your services, or anything else integral to your business’ success, you owe it to yourself, your employees and your shareholders to protect it in the strongest way possible. Fine yourself a good intellectual property attorney with specific knowledge of your particular business genre who can help you “lock down” your investment.

What Should You Look For in an Intellectual Property Attorney?

Intellectual property is a field in which an attorney has to know not only the law, but must also have a sense about the potential client’s business goals, practices, and ethical stance. These elements are not always obvious, so it is in the client’s best interest to inquire in an initial interview not only how long s/he has been practicing this particular type of law, but also what type of businesses the intellectual property attorney has had experience with, as well as how “gung ho” the attorney is. For example, if your business wishes to take a balanced view of protection, going after only infringers that you feel are causing serious damage, if your intellectual property attorney delights in dropping nuclear bomb style threat letters on indigent college students and little old ladies, perhaps you would do better with an attorney more in line with your personal ethical structure.

Other things to look for in an attorney include whether or not your personal communications style meshes with that of the intellectual property lawyer. A good example is email communication. Email, for many business owners, is a much more efficient and usually cheaper method of communication. As an added bonus, you have a written record of the exchange in case of later misunderstanding. If your business runs on email contact and your attorney uses pen and paper, this may not work out in your best interests.

Once You Find an Intellectual Property Attorney, Then What?

What do you do once you’ve found your intellectual property attorney? Communicate clearly what your objectives are and let the attorney make suggestions to you as to how to reach those objectives. Intellectual property law is often highly complex and legally technical. If you have questions, ask the intellectual property attorney. If they don’t communicate with you, their client, in clear English terms, ask them to. Oftentimes, lawyers forget that they are dealing with non-lawyers and may fall back on legal jargon. If they can’t explain concepts to you in a way you understand, perhaps you should find an attorney who will.

As a legal client, do not forget that you are in the driver’s seat. Your intellectual property attorney can’t make business decisions for you. You must weigh his or her advice carefully, then make your decisions as an informed consumer of legal services. Your decisions should feel “right” to you. Insist that your intellectual property lawyer lay out the scenario to you and give you appropriate cost estimates, time estimates, and how the attorney thinks that this action (or inaction) will be of benefit to your business.

5 Things You May Not Know About Property Law

Real estate law

“What’s mine is mine,” as the saying goes. From childhood onward, we all have had experiences of owning things. Some things we sell, and some we trade or give away. As we grow older, we own more things on a much larger scale, such as automobiles and real estate. As we know, the law has some ground rules when it comes to this large-scale ownership. Do you know the difference between freehold and non-freehold property? Here are some things you may not have known about property law:

Real estate is governed on a state level – What state are you from? Every state in the USA holds exclusive jurisdiction over every plot of land within state lines. This is because, during the formulation of these laws, different states offered different crops. Propositions in the laws served to guarantee a clear-cut understanding of how crops should be cultivated and shared. Today, the states do not hold these same concerns, but still control how land is owned within their borders.

Do you live on specialty estates? – If a freehold estate is property you own for an indefinite period of time, and non-freehold estate is property you rent according to a contract, what exactly is specialty estate? You may have never heard the term, but specialty estates are just property holding in condominiums! Condos were first introduced in the United States during the early 1960s, and have since become a very popular, residential choice. The law declares that condominium ownership functions on a cooperative basis, meaning that each tenant pays a fixed price to own their share of the multiunit property.

We all have incorporeal interests – What are your incorporeal interests? Everybody has them: they are property on your real estate that are not physically owned. This can include easements, which are the rights to use property for whatever purpose you wish (like planting greenery or building a garage), agreements with additional property owners, and licenses you have acquired.

How does eminent domain work? – Comfortable with your privately owned land? Do not get too comfortable. With the power of eminent domain, the government reserves the right to take privately owned land. Under the Fifth Amendment of the Constitution, private property can be acquired for public use, as long as fair compensation as involved. Local governments, as well as individuals from the government, can exercise this right if they feel the need to due to public concerns, like health or safety.

What about zoning? – The government is also allowed to decide how your real estate is used. So what is zoning? Zoning is the most popular form of land control, sometimes dividing real estate based on the type of land and nearby structures. Real estate owners can petition their local government to allow them to build or remodel parts of their property. The government gets the final call.

Yes, what’s yours is yours. Just be sure to remember that since the signing of the Declaration of Independence, what’s yours is the government’s too! Before you purchase real estate of your own, be sure to check the facts about property law, so you are best prepared for that high-scale ownership.