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.
South Carolina Complaint or Petition by Purchaser Against Possessor of Real Property After a Foreclosure Sale Pursuant to a Deed of Trust
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How to fill out Complaint Or Petition By Purchaser Against Possessor Of Real Property After A Foreclosure Sale Pursuant To A Deed Of Trust?
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FAQ
What Is A Deed Of Trust? A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full.
Mortgage States and Deed of Trust States StateMortgage StateDeed of Trust StateOregonYPennsylvaniaYRhode IslandYSouth CarolinaY47 more rows
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...
(A)(1) The clerk of court or register of deeds shall require an affidavit showing the value of the realty to be filed with a deed. The affidavit required by this section must be signed by a responsible person connected with the transaction, and the affidavit must state that connection.
A South Carolina deed of trust designates a trustee as a property's legal owner until the original owner's (the ?borrower?) debt to a lender is paid. Property conveyed in a deed of trust is returned to the borrower once the loan made via a promissory note is settled.
A deed of trust is a legal agreement that's similar to a mortgage, which is used in real estate transactions. Whereas a mortgage only involves the lender and a borrower, a deed of trust adds a neutral third party that holds rights to the real estate until the loan is paid or the borrower defaults.
SECTION 29-3-330. Methods of satisfaction or release of security interest; affidavit. (A) In this section these words shall have the following meaning: (1) "Mortgage" means a lien against real property that is granted to secure the payment of money; a deed of trust must be given the same meaning as a "mortgage".
No. Some states?Michigan, for example?allow the homeowner a period of time to redeem (buy back) the property after the foreclosure sale. South Carolina has no such procedure. South Carolina follows the ?hammer rule.? Once the hammer falls at the foreclosure sale, the homeowner's property rights are cut off forever.