Is there a limit on the maximum length of time a creditor has to sell a property at sheriff’s sale once it has received a judgment?
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Is there a limit on the maximum length of time a creditor has to sell a property at sheriff’s sale once it has received a judgment?
I had a rental property that I thought was foreclosed on 2 years ago. The lender had obtained a writ of execution and the sale was set. For some reason, unbeknown to me, they cancelled the sale and never rescheduled it. It was only after I recently received past due tax notices that I came to realize that the house was still in my name. Do I have any legal recourse now to keep the property? I am willing to pay the taxes and, having been empty for almost 3 years, it needs a lot of work, which I will do, but not if I am going to lose it.
Asked on September 26, 2011 under Real Estate Law, Pennsylvania
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Good question. If legal title to the property is still in your name, you can do what you wish to do with it such as sell it or live in it. However, if you want to keep the property, it is best to clear up all past due obligations owed upon it such as mortgage payments and property taxes.
In order to set you down the right path, it is recommended that you retain a real estate attorney to asisst you and get a preliminary title report so you will know what you are up against for monies owed upon it. The best way to start is to contact the lender that had initially obtained a writ of execution and sale and start negotiations with it.
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