This paper explores the legal framework surrounding mortgage possession proceedings, with a focus on Zara, a sole homeowner facing significant arrears after leaving her job to care for her ill brother. Zara's lender, Oak Bank, is initiating possession proceedings, raising concerns about the potential sale of her house below market value to an employee. The paper examines Oak Bank's grounds for possession under the Law of Property Act 1925 and the Administration of Justice Act 1970. It highlights possible defenses Zara can employ, including demonstrating her ability to pay arrears and invoking her right to relief under the Administration of Justice Acts. Additionally, it addresses the mortgagee's duty to act in good faith, achieve the best sale price, and avoid conflicts of interest. The paper concludes by outlining the steps Zara can take to ensure a fair and transparent sale process, safeguarding her interests.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Grounds for possession
- Possible Defence Against Possession
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This text aims to explore the legal framework surrounding possession proceedings under English law, particularly focusing on the case of Zara, a publicist facing mortgage arrears. The text examines the grounds for possession and potential defenses available to mortgagors in such situations.
- Possession proceedings under English law
- Rights of mortgagees and mortgagors
- Legal framework for mortgage defaults and arrears
- Potential defenses against possession claims
- Importance of financial plans and demonstrated ability to pay
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: Introduces Zara's situation and the legal framework of mortgage law, emphasizing the protection afforded to mortgagors facing financial difficulties.
- Grounds for possession: Explains the legal grounds on which Oak Bank, Zara's lender, can initiate possession proceedings, citing relevant legislation and legal precedents.
- Possible Defence Against Possession: Examines the available defenses for Zara against the possession claim, including demonstrating the ability to pay, requesting relief under relevant legislation, and exploring alternative courses of action.
Schlüsselwörter (Keywords)
The text focuses on key concepts such as possession proceedings, mortgage arrears, legal framework, defenses against possession, financial plans, demonstrated ability to pay, equitable relief, and relevant legislation like the Law of Property Act 1925 and the Administration of Justice Act 1970.
- Quote paper
- Armstrong Odiwuor (Author), 2024, Mortgage Possession Proceedings under English Law. Legal Protections for Homeowners, Munich, GRIN Verlag, https://www.grin.com/document/1481721
