Full question:
I purchased a foreclosure home and no one seems to want to answer what stays with home and forms needed for the person that lost the house to stay in it. They now are wanting to sell appliances and things sitting around the house like old windows unattached, unattached solar water tank, refrigerator, stove and washer and dryer. Since I bought it from the bank with no sales contract negotiated in advance like in real estate I have no guidelines to standards of practice on what stays or agreements if old owner before bank at courthouse sale. What stays and what agreement is needed if old owner becomes renter?
- Category: Real Property
- Subcategory: Foreclosure
- Date:
- State: North Carolina
Answer:
In virtually all lender agreements there is a stipulation that any improvements made are to remain with the property. This generally pertains to things such as an air conditioner or furnance that has been replaced, in some cases ceiling fans, those things which would damage or devaluate the property if they were to be removed. The general rule is that homeowners can take any personal property, but must leave all fixtures related to the property. Personal property is that which is not real property. However, fixtures are considered real property because they are affixed to the land, to the house, which means fixtures stay with the house.
A fixture is an item of personal property attached permanently to real estate, such as drapery rods, toilets, wet bar, or other items which could damage the premises by their removal. Fixtures are awnings, bookcases, lighting, plumbing, etc., that are attached to a real property in a manner that it becomes a part of that property. Fixtures are sold and transferred with the real property, even if they are not mentioned in the deed. However, if the life of the article, such as a water pump or heater is assumed to be less than the life of the building, it is classified as an equipment and not a fixture.
Please see the information at the following links for further discussion:
http://ezinearticles.com/?Moving-After-Foreclosure-and-Taking-Appliances&id=794764
http://homebuying.about.com/od/4closureshortsales/qt/110507_Fixtures.htm
If an eviction/unlawful detainer action has already been filed, it may be necessary to voluntarily dismiss the action to allow the previous owner to remain. Otherwise, a lease is typically used to rent the property.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
