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Eviction—a court action to remove someone from a property which is owned by another. Eviction is frequently required after a lender has been forced to foreclose against a homeowner who has become unable to make the house payments, and then refuses to vacate the property after notification of the pending sheriff’s sale.
Forceful Eviction—the use of legal recourse by the lender to gain possession of the residence. If the property is occupied by the owner of record in a fee simple title, then the owner has the right to continue to live in the home, rent free, until the foreclosure sale. Once the sale has occurred, the lender is entitled to possession and may then take steps to force the consumer out.
You can find more helpful definitions of WORDS like these in Your Real Estate Advisor which can be purchased at www.DovePublishingHouse.com.
(Please E-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have! We appreciate all comments and feedback, so please don't be shy.)
Forceful Eviction—the use of legal recourse by the lender to gain possession of the residence. If the property is occupied by the owner of record in a fee simple title, then the owner has the right to continue to live in the home, rent free, until the foreclosure sale. Once the sale has occurred, the lender is entitled to possession and may then take steps to force the consumer out.
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You can find more helpful definitions of WORDS like these in Your Real Estate Advisor which can be purchased at www.DovePublishingHouse.com.
(Please E-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have! We appreciate all comments and feedback, so please don't be shy.)
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