Montville, NJ asked in Foreclosure for New Jersey

Q: I am in NJ and I have an Estate Sale Company. I have a new client who is in forclosure and wants me to sell their poss

-essions including all light fixtures and builtin appliances. Is this legal and can I be sued by the bank for acting as an agent?

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2 Lawyer Answers
Derek John Soltis
Derek John Soltis
Answered
  • Foreclosure Defense Lawyer
  • Jersey City, NJ

A: The thinking normally goes that until the house is actually foreclosed, the owners own the home. However, that is flawed. When someone strips the home, like you are suggesting, they can get in trouble. Many banks submit an insurance claim to the existing insurance company to cover any damage and missing real property items.

Take a look at this article: https://www.thebalance.com/take-from-foreclosed-home-1798180

Leonard R. Boyer agrees with this answer

Leonard R. Boyer
Leonard R. Boyer
Answered
  • Foreclosure Defense Lawyer
  • Brooklyn, NY
  • Licensed in New Jersey

A: What you are proposing to do, commonly known as "stripping" can result in serious legal trouble, so do not even think about it! When in doubt about a legal matter, always consult an experienced attorney.

1 user found this answer helpful

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