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It is a incontrovertible fact that typically when the Bank misplaced the Unique Copy” of a borrower’s title documenthttps://www.property-net-malaga.com the Bank would instruct their lawyers to use to the Land Office concerned for a Alternative Title” with out getting the borrower concerned to be involved as they consider that as the Chargeehttps://www.property-net-malaga.com the Bank has the proper to use for the Alternative Title” with out the involvement of the property proprietor (the proprietor).
Also the deposit of a title deeds accompanied by a memorandum underneath seal will give an equitable mortgagee all the treatments of a legal mortgagee including energy of sale however can’t vest legal title in the purchaser except the memorandum under seal contains power of attorney.
The second can be the financial institutionhttps://www.property-net-malaga.com you seehttps://www.property-net-malaga.com when no person bids on your house on the public salehttps://www.property-net-malaga.com then the house will go back to the bank who lent you the money on the homehttps://www.property-net-malaga.com making them the official homeowners of the property.
Foreclosure may be effected only by an order of the court docket that entailshttps://www.property-net-malaga.com firsthttps://www.property-net-malaga.com the granting of an order of foreclosure nisihttps://www.property-net-malaga.com which successfully provides the mortgagor six months’ grace inside which to boost the sums due; if the mortgagor has failed to do thishttps://www.property-net-malaga.com the foreclosure becomes absolutehttps://www.property-net-malaga.com whereupon the rights of the mortgagor in the property cease and become vested in the mortgagee.