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Is it fraud to sell the house after mortgage

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Is it fraud to sell the house after mortgage


        

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  • 2024-06-12 04:00:49

    It is generally not fraud to sell the house after mortgage. After the house owner mortgages the house, the ownership of the house still belongs to the original owner, who has the right to sell the house, but there are conditional restrictions, as follows: 1. The price obtained by the owner of the house from selling the house should be used to pay off the secured creditor's rights to the mortgagee in advance or to deposit with a third person agreed with the mortgagee. The part exceeding the amount of creditor's rights shall belong to the owner of the house. The insufficient part shall be paid by the debtor. 2. During the mortgage period, if the house owner transfers the house, he must notify the mortgagee and inform the buyer that the house has been mortgaged. In addition, during the mortgage period, without the consent of the lender, the mortgagor shall not mortgage the collateral again or lease, transfer, sell off or give gifts. 3. If the purchase price of the house is obviously lower than the actual value of the house, the mortgagee can require the owner to provide corresponding guarantee. If the owner does not provide a guarantee, the house cannot be sold.
    In other words, it is a normal transaction if the house is sold after mortgage and meets the restrictions.
    How long is the time limit for mortgage litigation
    The limitation of action of mortgage: the guarantee period agreed by the parties or required by the registration authority shall not be legally binding on the existence of the security interest. If the guarantee period agreed in the guarantee contract is earlier than or equal to the performance period of the main debt, it shall be deemed that there is no agreement, and the guarantee period shall be six months from the date of expiration of the performance period of the main debt. If the suretyship contract stipulates that the surety shall bear the suretyship liability until the principal and interest of the principal debt are paid off and other similar contents, it shall be deemed that the agreement is unclear, and the suretyship period shall be two years from the date of expiration of the principal debt performance period. If there is no agreement or unclear agreement on the time limit for performance of the main debt in the main contract, the limitation period of action for the creditor to apply to the people's court for protection of civil rights from the creditor's request for the debtor's performance of obligations is three years. If the law provides otherwise, such provisions shall prevail. The limitation period of action shall be counted from the date when the obligee knows or should know that his rights have been damaged and the obligor. If the law provides otherwise, such provisions shall prevail. However, if it has been more than 20 years since the date of damage to rights, the people's court shall not protect them. Under special circumstances, the people's court may decide to extend them on the application of the obligee.
    To sum up, selling the house after mortgage is generally not fraud. After the house owner mortgages the house, the ownership of the house still belongs to the original owner. Do you understand?

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