Salt Lake City, UT asked in Real Estate Law for Idaho

Q: I lent money to a neighbor and he put up a piece of property up as collateral. He failed to pay me when it was due.

How do i take control and ownership of the property ?

Related Topics:
1 Lawyer Answer

Kevin M Rogers

  • Boise, ID
  • Licensed in Idaho

A: “Put up a piece of property up as collateral?” How did he “put it up” as collateral? Did he give you a Deed of Trust or a Mortagage? Did he record it or did you? Generally speaking if the document adequately identified his property AND was identified as “collateral,” AND was recorded, then you will have to “foreclose” on the instrument given you to secure his debt.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.