Claim of Right to Possession [Unofficial Form for Use by Levying Officers in Unlawful Detainer Cases]: This form is used by the levying officer of the court. It explains to the Defendant, that the levying officer has the right to take possession of certain items which have been found to be unlawfully detained by the Defendant.
Release To The Right Of Possession With The Borrower Best Describes
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How to fill out California Claim Of Right To Possession - Unofficial Form For Use By Levying Officers In Unlawful Detainer Cases?
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The homeowner has some time after the sale to buy the home back from the successful bidder (called the right of redemption). The amount of time depends on whether the sale satisfied the debt. If the sale satisfied the debt, the homeowner has 3 months. If it didn't, the homeowner has 1 year.
Foreclosure is when the lender or servicer takes back property after the homeowner fails to make mortgage payments. In some states, the lender has to go to court to foreclose on your property (judicial foreclosure), but other states do not require a court process (non-judicial foreclosure).
Foreclosure is the process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property. Although the foreclosure process varies by state, there are six common phases of a foreclosure procedure.
Equity of redemption (also termed right of redemption or equitable right of redemption) is a defaulting mortgagor's right to prevent foreclosure proceedings on the property and redeem the mortgaged property by discharging the debt secured by the mortgage within a reasonable amount of time (thereby curing the default).
The legal proceeding to retake the house and land after a borrower defaults is called a foreclosure. A lender who successfully forecloses on the property becomes its new owner. Most often, the house and land are sold by the lender. Money from the sale is applied to the borrower's unpaid loan balance.