Keeping possession of real property without a right, such as after a lease has expired or after the real property has be sold by the possessor, may entitle the owner to file a lawsuit for "unlawful detainer," asking for possession by court order, unpaid rent and damages. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.
West Virginia Complaint or Petition by Purchaser Against Possessor of Real Property After a Foreclosure Sale Pursuant to a Deed of Trust
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How to fill out Complaint Or Petition By Purchaser Against Possessor Of Real Property After A Foreclosure Sale Pursuant To A Deed Of Trust?
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FAQ
Once the sale happens, the law says nothing about redeeming the home. This is important to note if you have been through this in other states in the past, as they sometimes offer up to a year for the redemption process, but West Virginia does not.
A "deed in lieu of foreclosure" is when a lender agrees to accept a deed to the property instead of foreclosing. With a deed in lieu of foreclosure, the deficiency amount is the difference between the borrower's total debt and the home's fair market value.
A credit line deed of trust shall be, from the time it is duly recorded as required by law, security for all indebtedness or other obligations secured thereby at the time of recording and for all future advances secured thereby in an aggregate principal amount outstanding at any time not to exceed the maximum amount ...
Approximately half of the states in the United States, including Virginia and Maryland, are ?deed of trust states,? which means they typically allow foreclosure by non-judicial sale.
If you default on your mortgage payments in West Virginia, the lender may foreclose using a judicial or nonjudicial method.
A deed of trust may convey both real property or some interest therein and personal property or only real property or some interest therein or only personal property in order to secure a debt.
Under Virginia law, foreclosures are done outside of court. Virginia is a non-judicial state therefore the Trustee simply sells your property, usually at a public auction to the highest bidder.
In West Virginia, a homeowner will receive two notices before losing the home to foreclosure. First, the bank must issue a notice of default. Then, a notice of sale must go out. The trustee will also publish the notice of sale in a newspaper.