Posted by JD on July 24, 2003 at 08:01:04:
It would not be best for me.
foreclosure auction could I change locks? - Posted by Aaron
Posted by Aaron on July 22, 2003 at 22:03:36:
Hi,
If I win the foreclosure auction a the court house, could I change the locks right away? This is what happens in New York:
You’ve to give 10% at the auction and the rest 30 days later. The question I have is during the 30 days could I change the locks on the property?
Thanks,
Aaron
Re: foreclosure auction could I change locks? - Posted by JT-IN
Posted by JT-IN on July 23, 2003 at 07:43:31:
In doing some brief research about NY foreclosure procedure, I find the following info about deeds, but nothing specific on possession…
"After the property has been sold, the officer conducting the sale must execute a deed to the purchaser. The officer must also pay, out of the proceeds, the amount of the debt, including interest and costs, to the lender and then obtain a receipt for the payment from the lender.
Within thirty days after the completing the sale and executing the deed to the purchaser, the officer must file a report of sale, which must include the receipt from the lender, with the clerk of the court. Unless otherwise ordered by the court, the sale can’t be confirmed until three months past the filing of the report of sale."
The answer to your question is probably different depending upon whether the property is occupied or vacant. If vacant, it is likely that no one will care if you change locks or not. What I do locally (Ohio) when I buy a vacant property, is to mention to the Sheriff that the house is unsecured, and I plan on securing the property. He always says “fine, that is your right to secure the property”. At the same time I post a notice on the front window of the property that says something to the effect that: “Property found unsecured. Locks have been changed. Anyone requiring information about property on these premises may contact JT, @ xxx-xxxx” This way no one can claim that they lost possessions that they could no longer access, etc. Now if the property is really not unsecured, then I wouldn’t have the right to change locks in my area, until some other legal steps are taken.
In all probability, you are not really entitled to change locks until you are legally able to occupy the property. So find out when you legally obtain the right to occupy, and that will put an answer to your question. If a property is vacant, and as long as no one complains, it sort of follows the old adage that “possession is nine tenths of the law”. Of course, you will never see that phrase quoted in any case law… LOL
The fact that you have only given the 10% and balance in 30 days tells me that you really do not have property rights yet… but a quick phone call to the Sheriff or the Clerk of Courts will answer your question. Be aware that sometimes you may not want to officially ask a question, becuase you can no longer use the defense of the “uninformed”, once you have been enlightened.
Just the way that I view things…
JT-IN
Re: foreclosure auction could I change locks? - Posted by JD
Posted by JD on July 22, 2003 at 22:15:59:
I am not from NY, so if your looking for a “legal” answer, I would have to say that I have no idea. Regardless of what the legal answer was, I would change the locks if the property was vacant.
Re: foreclosure auction could I change locks? - Posted by Bill Taylor
Posted by Bill Taylor on July 22, 2003 at 23:07:15:
Probably best to wait til you know you are going to be in possession of the deed. If you paid the amount in full day of sale I do believe you would have owership.