Legal Question in Real Estate Law in District of Columbia

Forclosure Forfeiture of Deposit to Trustee

Under what circumstances may a Trustee forfeit the deposit of a defaulting purchaser at a forclosure sale.


Asked on 5/16/07, 10:33 am

1 Answer from Attorneys
Carter Ferrington Bar Adon Vogel PLLC

Re: Forclosure Forfeiture of Deposit to Trustee

Being in default under the terms of the sale usually results in the forfeiture of the deposit. The terms of default are usually in the advertisement. The fact that you've characterized the buyer as in default, seems to indicate your belief that he/she is currently in default.

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Answered on 5/16/07, 11:50 am


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