Title: law - If a house is in foreclosure what does the bank own vs what the former owner owns - Personal Finance & Money Stack Exchange
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If a house is in foreclosure what does the bank own vs what the former owner owns
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Content: In some areas, appliances like washer/dryer/fridge are traditionally bought and sold with the house. In those areas, those appliances would be considered permanent fixtures of the property. In other areas, the appliances don't usually convey with the house, so they wouldn't become the bank's property either. Many people make improvements like upgrading shower heads, adding a chandelier, or installing fancy light socket covers. You're probably within your rights to take those back as long as you install a replacement, and those replacements don't have to be very nice. It's sadly become common for homeowners to strip a home that's in foreclosure, taking permanent fixtures when they leave. Those items are technically your property until the place is actually foreclosed. If you happen to sell your fridge on Craigslist for $200, there's not much your bank can do. After foreclosure, the new owner's top priority will be to get you out of the house quickly and quietly. I've heard that they'll actually offer cash for cooperation, so that the resident can leave with some dignity and have some cash to start a new life.