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When a provision of law requires that repossession takes place, the lien holder has a non-delegatable obligation not to cause a breach of the peace (which is synonymous with disturbing the peace) in performing the repossession or the repossession will be reversed, and the party ordering the repossession will be liable for damages (or the lienholder will be held responsible).
Although a statute of limitations and a statute of repose are different, the two concepts are sometimes confused, even by legislatures in their enactment of statutes. In a U.S. court case that reached the nation's Supreme Court, the court took note of the failure of Congress to consistently observe the distinction when drafting laws:
In the United Kingdom, true foreclosures are quite uncommon, with mortgage possession (or alternatively, repossession) being more common. In the case of mortgage possession or repossession, if the home is sold or auctioned for a price that exceeds the loan balance, those funds are returned to the consumer.
Often, self-help is allowed as long as no law is broken and no breach of the peace occurs (or is likely to occur). Additionally, the usual limit on liability for actions of an agent does not apply; if one uses an agent, such as an independent contractor, to perform the self-help action, the principal will be held strictly liable if anything ...
The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act.
A law barring monthly rents of more than $10,000 for new listings is stopping high-end homes from going on the market, real estate agents and brokers say. Such homes could be in demand for wealthy ...
The Credit (Repossession) Act 1997 was an act that regulated repossessions in New Zealand. This Act replaced the limited repossession sections in the Hire Purchase Act 1971. [ 1 ] The Act outlined the rights of the debtor , the steps required for repossession , the creditors right of entry, as well as the steps the creditor must take once they ...
A number of prominent companies have scaled back or set aside the diversity, equity and inclusion initiatives that much of corporate America endorsed following the protests that accompanied the ...