Have you ever taken over a property because someone couldn't pay?

[Grant]

Have you ever taken over payments on a property where the original owner couldn't afford to pay it off? Or maybe they tried, but failed and had to leave. Have you ever taken over a property because someone couldn't pay their rent or house payments?

 

[Blessedsam60]

Not I haven't before. But I actually hear this alot. Especially when the dept is huge, the lender will take hold of the debtors property and this at times iis due to the agreement reached earlier.

 

[HayKay]

No I haven't but I know of people who have had their properties taken over because of debt that they couldn't repay.
I wouldn't blame any individual or company that does that because most times it's always an agreement that has to be stuck to.

 

[eLdavis]

Have you ever taken over payments on a property where the original owner couldn't afford to pay it off? Or maybe they tried, but failed and had to leave. Have you ever taken over a property because someone couldn't pay their rent or house payments?

I have never had such experience though but in such a situation, whose name would be on the document of ownership? Let's say before you stepped in the previous person has paid half, what happens then?

 

[joy101]

I have never done that before but I have see something like that people who refused paying back their debt, so pay with their properties.

 

[Nomad]

Even though I have lent money a couple of times, I am not a professional money lender. Those who have burrowed from me have always paid back and I was never in a situation when I had to take the property to recover my money.

 

[Kubiat-Abasi]

I have actually not encountered such situation before because I'm not into real estate at the moment, but if an agreement was reached and a collateral waa in line or at stake, then why not? I will take over the property!

 

[Trexxxy]

Personally I haven't. But I have heard of such cases, where the tenants of a particular property defaults on a payment and the owners had to take over.

 

[Mayox25]

I have had of situations where tenants couldn't pay and the landlord have to take over such property. Though there are legal process and proceedings to follow to do that.

 

[Elfinito]

Well I haven't had such opportunity but I don't mind taking a chance if I find one.
I take over the property, make the payment and the use it to make my own money

 

[Nomad]

I have seen a lot of lenders take over the property just because the burrower couldn't pay back. If you are dealing with lenders or even banks, you will have to pay regularly to avoid your property to be taken from you.

 

[Sotherefore]

I've never done that before, but sometimes if there is already someone that is interested to buy a particular property, it is always the best that we avoid the property at that particular period of time so we won't make it as a competition.

 

[Lucy ID]

I have not experienced that kind of experience before though I have heard of some events and how bad likewise terrible alongside

 

[kayode10]

I don't have real estate property and I have never rented an apartment or a building to people. If taking over the property will motivate the person to pay back the money he is owing, then you should never hesitate to take action.

 

[Syldan]

Well I have no experience on such kind of complicated issues. even though I have learned from alot of people who have been victims of such situation and this is because of financial constraints and selfishness of the victim.

 

[Emmy]

I have only done it when I was in college where my coursemate couldn't pay for the job I actually did for him, then I later took over the property. So I have even wanted to return it after graduation but we've not seen each other till then

 

[kinqzbitz]

No I haven't done such before so I don't really know much about it but then but I have learnt a lot from people who actually have gone through that and it is mostly because of financial problems

 

[Syldan]

Yes, I have taken over my property from someone because he has failed to pay me what we agreed on over a period of time and I need the money to settle some debt and someone was willing to offer me for the property.

 

[Lucy ID]

No I haven't, although I know of people who do that it's not really there fault people refuses to pay most of the time when necessary and people take drastically ways to get what they want

 

[Toyoabasi]

Yes, I have.
There was a time I occupied a shop space where the previous occupant was told to vacate because she couldn't pay up her rent. I quickly took over the space.

Have you ever taken over payments on a property where the original owner couldn't afford to pay it off? Or maybe they tried, but failed and had to leave. Have you ever taken over a property because someone couldn't pay their rent or house payments?