Legal Question in Real Estate Law in North Carolina

Can a bank foreclose on property if the property no longer belongs to the borrower?

Asked on 10/14/13, 9:13 am

2 Answers from Attorneys

Kenneth Love Ken Love Law
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More information is needed. But I am assuming you are saying that a property owner deeded the property to someone else while the bank had a mortgage on it. Under these circumstances, yes the mortgage company can foreclose and in fact, the transfer may b a default under the deed of trust which allows them to foreclose even if the loan is current.

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Answered on 10/14/13, 9:24 am
Jeff Rosner Rosner Law Firm P.A.
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If you are asking a general question - Yes a bank can foreclose on property that no longer belongs to the borrower. Each specific circumstance may be different but a bank does not lose a security interest in the land just because property is conveyed to a new borrower. There are circumstances where the bank's deed of trust could be wiped out but you would need to speak to an attorney about the specific circumstances

- Jeff

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Answered on 10/14/13, 10:08 am

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