Legal Question in Real Estate Law in Florida
I had an investment deal that went bad on a condominum purchase in florida. Property went into foreclosure and has since been auctioned and sold. How does this now affect me as the original owner???
3 Answers from Attorneys
Since the property was sold at public auction you no longer have any ownership interest in the property and therefore no obligations with respect to same. However, in the event a deficiency resulted from the price paid at auction being less than the amount of the loan or if the lender bought the property at the public auction and later sells same for a loss, the lender may have the right to pursue a deficiency judgment against you.
Did you have title? Without reading your contract, closing papers and obtaining more information, no one can answer properly.
It sounds like you are no longer an owner. If you are on the mortgage, the lender could go after you for a deficiency judgment. Contact an attorney for specific legal advice regarding your situation. Regards,