QUESTION
How can I get out of this property?
Asked on Jun 14th, 2013 on Landlord and Tenant Law - North Carolina
More details to this question:
I abandoned a property 6 years ago. I have not paid the mortgage, and they have not contacted me. I cannot sell it, it is in a bad neighborhood. The boro is constantly fining me for high grass and debris. How can I get out of this property? FYI Landlord and Tenants was the only category close to this question.
2 ANSWERS
Mark Weinstein
Sell it.
Answered on Jun 15th, 2013 at 7:16 AM
Family Law Attorney serving Durham, NC
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Morelos Law Firm
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You can sell, give away, or dispose of the actual property if you want but the loan obligation is separate, and in fact as part of any sale or conveyance, that lien would need to be paid off. That is very odd they have not done anything in 6 whole years though. You should consult with an attorney to look at your original note and deed of trust to see if at some point, the Lender may lose rights to pursue.
Answered on Jun 14th, 2013 at 10:41 AM