Once they have taken over what is their responsibility if the property has a tenant in it? Can they evict the tenant without a court order, leave it in disrepair to sell the property because it is in negative equity and without notifying the mortgagee? Can they stop the mortgagee from reletting a buy to let property? Can they sell without a court order? By elligally evicting the tenants and changing the locks blocking another tenant from moving in are they not trapping the mortgagee into arrrears which will lead into repossession?
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2010-09-1 19:42:10
On the date of your Bankruptcy hearing, all your debts are frozen and all your assets become the property of the Court, who will appoint a Receiver to administer them.
In the case of any property, the Receiver will arrange for it’s sale and for the proceeds to be paid out. The Receiver is responsible for ensuring the property attracts the maximum value at auction – so any Tenant is typically given (minimum legal) notice. Any Rent paid during the notice period belongs to the Court.
2010-09-1 19:42:10
You cannot evict without court order.