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A home becomes a bank-owned property after the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned or REO homes, REO ...
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".
Standard Bank of South Africa Ltd v Saunderson and Others is an important case in South African property law and civil procedure.It was heard in the Supreme Court of Appeal on 23 November 2005 and decided on 15 December 2005.
The bank now known as Standard Bank was formed in 1862 as a South African subsidiary of the British overseas bank Standard Bank, under the name The Standard Bank of South Africa. The bank's origins can be traced to 1862, when a group of businessmen led by the prominent South African politician John Paterson [ 5 ] [ 6 ] formed a bank in London ...
Condition whereby while possession of property is achieved or retained, possession of it is contingent upon performance of obligation to somebody indebted to, and unencumbered ownership of it is contingent upon completion of obligation. The performance of obligation usually implies division of the principal into installments. Mortgagor
It's tempting indeed to take the bottom-fisher route, especially when bank-owned deals are so plentiful and annual housing prices in 20 major cities combined declined 4 Secrets to Scoring a Bank ...
Replevin actions may also be pursued by true owners of property, e.g., consignors seeking return of consigned property that the party in possession will not relinquish for one reason or another. Replevin is an action of civil law, not criminal law.
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.