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When a provision of law requires that repossession takes place, the lien holder has a non-delegatable obligation not to cause a breach of the peace (which is synonymous with disturbing the peace) in performing the repossession or the repossession will be reversed, and the party ordering the repossession will be liable for damages (or the lienholder will be held responsible).
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
Replevin lay to recover goods still held after a tender of amends. [7] Detinue lay to recover lent goods where the holder refused to return them to the owner. However, the defendant was allowed to exculpate himself by oath, so this action was displaced by that of trover and conversion. [8]
REO sale property in San Diego, California. Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
Can't Pay? We'll Take It Away! is a British factual documentary series on Channel 5.It follows the work of High Court enforcement officers (previously known as sheriff's officers) as they execute privately obtained High Court writs across England and Wales on behalf of private clients, on those who have failed to make repayments on alleged debts or refuse to vacate a property.
Self-help, in the context of a legal doctrine, refers to individuals exercising their rights without resorting to legal writs or consulting higher authorities. This occurs, for example, when a financial institution repossesses a car on which it holds both the title and a defaulted note.
Know the Law. The process of repossession is intrusive and frustrating and can be intimidating. The laws are murky and vary from state to state, but a court order is almost never needed for a ...
Asset recovery, also known as investment or resource recovery, is the process of maximizing the value of unused or end-of-life assets through effective reuse or divestment. While sometimes referred to in the context of a company undergoing liquidation , Asset recovery also can describe the process of liquidating excess inventory , refurbished ...