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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 38850
Experience:  Texas Attorney for 30 years dealing in real estate
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If I build a shed on the same lot as my home, and buy materials

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If I build a shed on the same lot as my home, and buy materials with cash and build a shed detached from my home, does it then become part of the collateral on my mortgage or could I realistically sell the shed free and clear even if my home is in foreclosure?

RayAnswers :

Thanks for your question and good afternoon.

RayAnswers :

You may well argue this is not part of the property and improvements to it.You added it after purchase here.It would be better if you were to have one that has premade type flooring and no cement foundation.

RayAnswers :

In such a situation you would be able to sell it off.You would simply do so prior to letting house go into foreclosure.

RayAnswers :

Since this was not part of your purchase not used as part of collateral when loan was made you certainly would be able to remove it prior to letting the property go here.

RayAnswers :

By avoiding say cement foundation you avoid any argument it was permanently attached to land and became a fixture somehow.

RayAnswers :

Many of the premade ones are made with this in mind they have pre made floor and come non attached to the land and are easily removed.

RayAnswers :

And again since it was not part of prior sale nor financed as part of it you have good argument here that you can sell it or move it if the time comes that you need to do so.

Customer:

There is no cement foundation just wood flooring. If our home goes into foreclosure before we can get it sold, are you saying that would change the legal scenario somehow?

RayAnswers :

I think you need to remove it here before the property is sold.If the lender here takes the house back and sells it there may be a dispute.

RayAnswers :

Legally I think you have a great case to do so here prior to nay foreclosure.

RayAnswers :

This avoids any claims otherwise.

Customer:

Okay, that I can understand. Thank you Ray for responding so quickly!

RayAnswers :

If you are going to let property go at some point you need to sell it or remove it elsewhere.

RayAnswers :

You are so welcome.

RayAnswers :

If you can leave a positive rating it is always appreciated.

RayAnswers :

Take care.

Ray and 3 other Real Estate Law Specialists are ready to help you
Thanks for your recent question and positive rating.If you can return the customer satisfaction survey with a positive rating it will be much appreciated as well.If you have future questions post them for Ray and I will be happy to respond.Thanks again.

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