This form is a Verfied Complaint for Replevin. The plaintiff has filed this action against defendant in order to replevy certain property in the defendant's possession.
Repossession Form Buy Foreclosure In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-000265
Format:
Word;
Rich Text
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FAQ
The potential financial rewards of buying a foreclosed property are not arrived at without a significant amount of hard work. Many homes in foreclosure have been poorly maintained, They may also have structural issues or water or mold damage; some may be in violation of codes or other standards.
You can find pre-foreclosures by contacting the Recorder of Deeds office in your county of interest and find out where they publish the notices of foreclosures. Some counties have a legal paper, some have a site online or other digital publication. So you really have to call and find out their specific policy.
New York is a judicial foreclosure state, which means that the lender has to sue the borrower in order to enforce their rights under the mortgage and note. If the lender wins the lawsuit, it obtains a judgment from the court, which allows the lender to sell the property at an auction.
Yes, real estate agents usually know about nearby houses ready to go into foreclosure because they network with other agents, are familiar with the neighborhood, and frequently work directly with banks and lenders.
111-22, Div A, Title VII sec. 702, 123 Stat. 1660, before a tenant can be evicted due to foreclosure, the landlord must provide the tenant with a 90 day notice to quit when the foreclosed property has been purchased by a buyer who wants to personally occupy it as his or her primary residence.
In-person foreclosure auctions are open to the public. Anyone can attend; however, if you want to bid, you may need to register. In almost all cases, you'll need to be able to show that you have adequate funds to buy the property.
If none of the bids were as much as the outstanding balance, the bank becomes the owner, and the property is known as "REO" - real estate owned (by the bank). You need to look up the deed and see who owns it now.
Judge orders sale of your home. Lender and Referee choose date for auction at the courthouse. Sale is advertised for at least 21 days. Public sale, home sold to highest bidder.
Tax Implications of Surplus Funds Whether the surplus funds from a foreclosure sale are taxable can depend on individual circumstances and how they align with tax regulations. Generally, these funds might be considered taxable income, and the homeowner may need to report them as such on their income taxes.
Surplus Money Proceedings Referee's report must be entered at the County Clerk. Fee is $10. Surplus monies must be deposited into court. Mail a written request, including: A listing of the title of action. The index number. What you're requesting. A self-addressed, stamped business-sized envelope.