Legal Question in Real Estate Law in Massachusetts

Eminent Domain , Mortgage and Claims

Hi.A part of my yard has been taken for widing the road by eminent domain and I am getting proceeds of $10,000 from the town. I have a mortgage on my home do I need to notify the bank and do they have any claim to my proceeds?


Asked on 12/10/06, 3:53 pm

1 Answer from Attorneys
Jerome Aaron Law office of Jerome L. Aaron

Re: Eminent Domain , Mortgage and Claims

I don't see why the bank would have any claim to the money. They have a lien on the property to ensure that they will be paid their mortgage. That lien is still valid as to the balance of the property. The bank has almost assuredly been informed of the taking by the town, but I would call my bank anyway and let them know what is happening.

Read more
Answered on 12/11/06, 10:10 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Massachusetts