unreasonable lenth of time before sale of propertygreenspun.com : LUSENET : Repossession : One Thread
Hello, My home was repossesed in 1990, I received my first demand from a parasite representing the Nationwide in 1999, when I suggested they "go away" as the 6 year period had elapsed they informed me the property was mot sold until 1993 and that is when the time period starts from. Fair enough, but why take 3 years to sell it, are they not duty bound to sell asap and for the best price? Could I follow the "youve been neglagent" path as my defence? Thanks Lee
-- lee walker (email@example.com), May 25, 2002
First have a look at the answer in the previous posting "halifax-sarn info". Furthermore, although the CML state "The lender has a legal duty to sell the property for the best price that can reasonably be obtained." I understand that the law regarding this "Schedule 4 of the 1986 B.Soc.Act" was repealed. Please correct me someone if I'm wrong. My non professional advice would be to follow the advice on the repo site, send out SARNS, ascertain whether your property was sold for a fair price ,whether an MOJ was issued etc. Find out too,if you can,what they did with the property for 3 years. Don't forget that they still haven't legally decided when the time limits run from or which one really applies. Good Luck.
-- M Amos (firstname.lastname@example.org), May 25, 2002.