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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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. 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.