Legal check for bank auction property
1 year ago
The borrower is absconded. But the bank has court order and taken the house under bank control physical.. does any issue may come in future
A.Dear Client
You need to be very careful when you are buying the bank auction property because one common problem that has been observed is getting the possession of the property once the auction is over as banks do not take much responsibility for possession.
You need to be very careful when you are buying the bank auction property because one common problem that has been observed is getting the possession of the property once the auction is over as banks do not take much responsibility for possession.
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A.Dear Client,
In many cases, while auctioning an immovable property such as a plot, house or apartment, banks have only legal documents or say symbolic possession of the property. The bank doesn't evict the occupants and it becomes the responsibility of the new buyers to evict the tenants and claim the possession.
In many cases, while auctioning an immovable property such as a plot, house or apartment, banks have only legal documents or say symbolic possession of the property. The bank doesn't evict the occupants and it becomes the responsibility of the new buyers to evict the tenants and claim the possession.
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