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North Carolina Complaint or Petition by Purchaser Against Possessor of Real Property After Judicial Foreclosure Sale - Repossession

Category:
Real Estate - Foreclosures
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Multi-State
Control #:
US-01018BG
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Keeping possession of real property without a right, such as after a lease has expired or after the real property has be sold by the possessor, may entitle the owner to file a lawsuit for "unlawful detainer," asking for possession by court order, unpaid rent and damages. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a notice in a particular jurisdiction.

A North Carolina Complaint or Petition by Purchaser Against Possessor of Real Property After Judicial Foreclosure Sale — Repossession is a legal document filed by a purchaser of real estate against the possessor or occupant of the property after a foreclosure sale has taken place. This complaint or petition is used to address any issues or disputes that may arise between the purchaser and the possessor regarding the possession or occupation of the property. In North Carolina, there are two main types of complaints or petitions that can be filed by a purchaser against the possessor after a judicial foreclosure sale: 1. Complaint for Enactment: This type of complaint is filed when the purchaser wants to legally remove the possessor from the property. It asserts the purchaser's right to possession as the new owner and requests the court to issue an order granting possession of the property to the purchaser. 2. Petition for Show Cause Order: This type of petition is filed when the purchaser believes that the possessor is in violation of any obligations or requirements specified in the foreclosure sale order or any subsequent agreement. The petition asks the court to issue a show cause order requiring the possessor to appear in court and explain why they should not be held in contempt for violating the terms of the sale or agreement. Keywords: North Carolina, complaint, petition, purchaser, possessor, real property, judicial foreclosure sale, repossession, types, complaint for enactment, petition for show cause order, possession, occupant, disputes, legal document, foreclosure sale order, obligations, agreement, court, show cause order, contempt, violation.

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How to fill out North Carolina Complaint Or Petition By Purchaser Against Possessor Of Real Property After Judicial Foreclosure Sale - Repossession?

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FAQ

While many states say that sales are final, you are given a short period in which you can redeem your home under North Carolina law. This period lasts for just ten days after the home is sold.

If you and the former owner cannot reach an agreement, you can serve the former owner with a Summons and Complaint for Unlawful Detainer. Your complaint can ask the court for an order evicting the former owner and giving you possession of the property.

A power of sale foreclosure is a contractual right under the terms of a deed of trust which gives the trustee the power to sell the real property on behalf of the lender if the borrower defaults. The procedure for power of sale foreclosure is contained in Article 2A in Chapter 45 of the North Carolina General Statutes.

The foreclosure hearing may come as soon as 20 days after you get the Notice of Foreclosure Hearing. Judges generally do not hear foreclosures. North Carolina is what is called a ?power of sale? state. This means that generally no judge will hear a foreclosure, instead foreclosures are heard by the clerk of court.

Your Rights under North Carolina Law If you rent a house or an apartment in a complex that has fewer than 15 units, state law allows you to end your lease anytime between 10 and 90 days after the foreclosure sale without paying early termination fees if you give your landlord written notice.

Most foreclosures in N.C. are "non-judicial" foreclosures, which means that they are heard in front of the county clerk, not a judge.

In North Carolina, the foreclosure process typically takes around 120 days from the date the first payment is missed to when the property is sold at a foreclosure sale. The timeline may vary depending on several factors, including: The lender's policies and procedures.

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A foreclosure by civil action is filed in either district or superior court depending on the value of the real property subject to foreclosure. The procedure ... How to fill out Wake North Carolina Complaint Or Petition By Purchaser Against Possessor Of Real Property After Judicial Foreclosure Sale - Repossession?Oct 14, 2023 — This complaint or petition is typically filed in the Mecklenburg County Court following a judicial foreclosure sale. In this legal process, the ... Find out what legal procedure must be used to evict the former owner after the foreclosure and sale of a home. Overview. If you bought a residential ... Foreclosure is the process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property. In the case of other personal property of the purchaser or transferee, the levy or attachment must be made within six months of the sale or transfer. (6) ... Article 26. Collection and Foreclosure of Taxes. § 105-349. Appointment, term, qualifications, and bond of tax collectors and deputies. (a) Appointment and ... First, the homeowner association foreclosed based on a claim of lien for unpaid assessments (Foreclosure #1). The HOA took title to the property out of the ... This is a preliminary step to selling the property at public auction for satisfaction of the tax lien. The judgment is docketed 30 days after the property owner ... If a foreclosure sale results in excess proceeds, the lender can't keep that money. Find out how to claim surplus funds from a foreclosure.

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North Carolina Complaint or Petition by Purchaser Against Possessor of Real Property After Judicial Foreclosure Sale - Repossession
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