How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Gerald-Esquire Your Own Question
Gerald-Esquire
Gerald-Esquire, Lawyer
Category: Real Estate Law
Satisfied Customers: 2887
Experience:  30 years of experience.
77476456
Type Your Real Estate Law Question Here...
Gerald-Esquire is online now
A new question is answered every 9 seconds

I closing on a foreclosure property. It is past the

Customer Question

I closing on a foreclosure property. It is past the redemsion period and I bought from the bank at auction. At the time of closing do I own everything in and on the property?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Gerald-Esquire replied 5 months ago.

Hello,

Thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

YES. When a bank forecloses on a property they take ownership of the property through legal process. During that process the previous owner has opportunities to remove their personal property. Any persoan property that is left behind is considered abandoned. So anything that remains becomes the property of the bank and ultimately the new owner.

As a matter of practice the bank usually hires a company to clean out the property prior to closing. So you may wish to be prepared for that. If there is something in the property that you specifically wanted to stay you should inform the real estate agent that you want that included in the deal.

I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow up questions, feel free to ask. Please note that I am generally unavailable Friday evening through Sunday.

I hope the information I have provided is useful to you and that I have earned a positive rating from you. It costs you nothing extra, and is the only way I get credit for my attempt to assist you.

If you are dissatisfied with my response PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you and only ask the same from you.

Good luck,

Please note: Information given is not legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Customer: replied 5 months ago.
Follow up-
Both the bank and the auction listed this property as "occupied". The doors are unlocked and I have been in the property and know that there is no one living there. That being said, there are still personal items including appliances, furniture, clothing, a car in the driveway and a motorcycle in the garage. I have it on good authority (the neighbors) that someone(s) periodically returning to the house to remove more items. Is "on" the property the same as in the house? Do I own the car? Does the "occupied" status change anything?
Expert:  Gerald-Esquire replied 5 months ago.

There is no difference between on and in the property. BUT If they are selling it as "Occupied" that usually means that there is a tenant and that DOES change things.

In this situation the property is NOT abandoned unless and until the tenant moves out.

In fact you may have to go through an eviction process to remove the person from the premises.

As to the vehicle, it is titled property and belongs to the person to whom it is titled. Abandoned titled property is a complicated process. In only some states can you get title to an abandoned vehicle. In many states you have to have it removed by contacting law enforcement. These links describe the process in Michigan regarding abandoned vehicles:

http://www.michigan.gov/sos/0,4670,7-127-48268-130776--F,00.html

http://www.michigan.gov/sos/0,1607,7-127-1640_14837-123588--,00.html

Hopefully the individual will leave and remove the proeprty without it becoming a headache for you.

If you do have to go through the eviction process the magistrate court (Small Claims Court) will have the forms that you need.

Good luck.

Kind regards,

Gerald

Related Real Estate Law Questions