Old owners property after house is Repossed.

MysteryM

We are in the final stages of buying a repossession and complete next week (4 weeks from offer to exchange :j)

The original owner has left some of there stuff in the house, they've had notice from the EA to collect and they've done a large portion of it.

After I complete, is the stuff now legally mine? The asset protection company were supposed to dispose of it all however they hadn't done this and i wasn't going to delay exchange whilst i waited for this to be done. Instead its now been sold as seen.

There was a notice on the door telling them that they had 14 days to collect all there stuff and that it would be disposed off if they didn't

I'm glad they didn't dispose of it as some of the stuff is worth keeping (e.g. patio furniture etc).

If the old owner ever comes knocking one day post completion I guess i can tell them they are out of luck?

thesaint

Are you paying a solicitor?

Running_Horse

Have you paid the owner money for their possessions?

Guest101

It's a repo, so the owner is the bank. It's complicated, but if they were served 14 day notice to remove belongings and havent done so, then i'd say it's your to do with as you wish.

G_M

No. You have notbought it (unlessit was negotiated in the purchase price) so it is not yours.

You have a duty of care.

If theowner does not collect them, you must:
a) keep them for a reasonable period of time
b) make reasonable efforts to contact her
c) allow her to collect them

However, you could put them into storage and charge the owner the cost when they collect.

However if the value of the belongings is small, they may decline to pay any storage costs and leave you with the bill rather than collect. You could then sell them, keep the amount to cover the storage costs but will still owe them the balance. It is not your money andmore than the items are yours.

Or if there is just a few bits, stick them in the attic for a while....

The guide below is written for landlords, but the law, and principles, are the same.

http://www.landlordzone.co.uk/uncollected_goods.htm

Guest101

G_M wrote: »

No. You have notbought it (unlessit was negotiated in the purchase price) so it is not yours.

You have a duty of care.

If theowner does not collect them, you must:
a) keep them for a reasonable period of time
b) make reasonable efforts to contact her
c) allow her to collect them

However, you could put them into storage and charge the owner the cost when they collect.

However if the value of the belongings is small, they may decline to pay any storage costs and leave you with the bill rather than collect. You could then sell them, keep the amount to cover the storage costs but will still owe them the balance. It is not your money andmore than the items are yours.

Or if there is just a few bits, stick them in the attic for a while....

The guide below is written for landlords, but the law, and principles, are the same.

http://www.landlordzone.co.uk/uncollected_goods.htm

Since this is a repossession and the bank was supposed to remove the belongings, but failed to do so. Does the bank not assume responsibility for the belongings, and as such, leaving them on site transfers ownership to the new owners?

I do agree with you in a normal case

G_M

Guest101 wrote: »

Since this is a repossession and the bank was supposed to remove the belongings, but failed to do so. Does the bank not assume responsibility for the belongings, and as such, leaving them on site transfers ownership to the new owners?

I do agree with you in a normal case

Hmmmm...

I guess it depends if owership of the possessions passed to the bank along with the house.

I doubt if they did, so the original owner is still the owner.

But even if the bank does now own them, the same rules would apply, that the owner (bank) must be given time to reclaim the items.

I think....

ladymagpie

We've exchanged contracts for a repossession today, and was told by our solicitor that the house is sold "as seen" therefore if there is anything in there its our responsibility, and not the bank that's selling or previous owner to dispose of it. But then our house had been empty for a few months, and there actually isn't any items left except a mirror and a washing line.

MysteryM

The asset protection company is working for the bank and has instructed that the house is sold as seen and we are responsible for throwing out this stuff.

They've been out of the property for months now and have collected some of there stuff via the ea and this is what's left. The ea has told us to dispose of what's left.

G_M

ladymagpie wrote: »

We've exchanged contracts for a repossession today, and was told by our solicitor that the house is sold "as seen" therefore if there is anything in there its our responsibility, and not the bank that's selling or previous owner to dispose of it. But then our house had been empty for a few months, and there actually isn't any items left except a mirror and a washing line.

Thanks.

I imagine in this instance, the 'original' owner has removed his possessions and advised the bank that he does not want the mirror and washing machine.

So the bank is now clearly responsible for those items (but does not want the hastle of removing them so is passing liability to the buyer.

This may or may not apply in the OP's case.

MysteryM

Just an update, spoke to my solicitors today about this:

- The sellers solictors have no titles to the items remaining and i can do what i like with the remaining items as i see fit.

- The defaulting borrower had time to clear the property and anything that is left over is what the borrow did not want to take with them.

The had already took the cooker and 95% of there furniture, light fittings etc. This was the remaining stuff.