“REO in Rocky Times”

EvictionEviction

WELTMAN, WEINBERG & REIS CO., L.P.A. WELTMAN, WEINBERG & REIS CO., L.P.A. WELTMAN, WEINBERG & REIS CO., L.P.A.

© 2009 Default Attorney Group

www.defaultattorneygroup.org

The Eviction Referral

1. Instructions to Evict with loan number and billing instructions

2. Foreclosure pleadings - if eviction attorney is different from the foreclosure attorney

3. Address of property4. Defendant(s) name and/or name of tenant(s)

*Occupancy is critical for proceeding

5. If contest or complication expected – any collection notes and/or correspondence

6. Recent bankruptcy papers

Types of Eviction

Types of Evictions

•Mortgagor Eviction

•Tenant Eviction

•Personal Property Eviction

Procedures

• New York Mortgagor

• New York Tenant

• New Jersey Mortgagor

• New Jersey Tenant

Procedures con’t

• New York Mortgagor– Writ of assistance– 10 day Notice to Quit and Summary

Proceeding in Housing Court Only use 10 day NTQ where certain

mortgagor occupied only

• New York Tenant– 90 day Notice to Quit as per PROTAFA– Summary proceeding in housing court

Procedures con’t

• New Jersey Mortgagor– Writ of Possession filed, issued and executed

based upon foreclosure judgment and sale

• New Jersey Tenant– Summary proceeding for possession in state

housing court– PROTAFA not applicable in NJ

State law provides greater tenant protections and supersedes federal law

– Good cause needed for eviction

Eviction Delays

• Contested Evictions in NY and NJ– Order to Show Cause challenging merits of

foreclosure judgment and sale post sale, which stays the eviction

– Appeals– Bankruptcy (even post sale)– Order to Show Cause to stay the eviction on

hardship grounds

Personal Property Eviction

• New York

– No such thing as personal property eviction

– Take possession through mortgagor eviction or take

possession without court or sheriff involvement

– No procedure in law as to abandoned personal property,

but should take precaution to post and store for 30-45 days

Personal Property Eviction con’t

• New Jersey

– No such thing as personal property eviction

– If value indicia of abandonment, client can take

possession, post and store for 30 days if valuables

remain, otherwise trash out

– If value indicia of no abandonment, proceed with

court ordered mortgagor eviction.

The Clean Out

The Clean Out

•Property must be vacant

•Role of realtor/asset company

•Changing the locks

•Photographs of contents/inventory

•Move out crew

•Disposition of property

Personal Property

Personal Property

• Value and description of property

• Types of personal property– Worthless property– Property with value– Fixtures– Automobiles

• Notice of Abandoned Property and/or Notice of Right to Reclaim Property

• Liability for property and/or trash out

Cash For Keys

• Client’s requirements

• Contact with customer/tenant

– Offers free of coercion/threats, written, good faith monetary

amount

• Conditions for delivery of payment

– Broom clean condition, waiver of all claims

• Releases

– Agreement detailed enough to release client from all liability

Thank you for your time.

Questions?