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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If a house is in foreclosure what does the bank own vs what the former owner owns
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Asked 10 years, 4 months ago
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So we were having a discussion about what we would all do if we were unfortunate enough to have our homes go into foreclosure. I asserted that all the appliances and even window blinds would still be my property. I would be allowed to keep my washer, dryer, fridge, dishwasher, blinds and even any fancy light socket covers I had installed. I would not have access to the stove, built in microwave and hood, copper wiring, carpet or fence material. So what is the law or generally accepted rule for what I bank owns when the home is foreclosed on? law real-estate consumer-protection foreclosure
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asked Nov 20 '10 at 17:34
MrChrister
MrChrister
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My understanding is that bank would generally have title to the permanent fixtures in the home, and that the prior homeowner would have the right to keep temporary fixtures, decor, and other personal property. Most things are clear-cut: a toilet is a permanent fixture. A shower curtain is not. For some items that aren't so clear-cut, it depends on the way things are handled in your jurisdiction.