polksalet Posted October 6, 2008 Share Posted October 6, 2008 Since the federal gummet has effectively bought all of the these mortgages doesn't that make these properties owned by the federal gumment? If so, does how does that affect the principle of adverse possession. Sine one cannot adversely possess against the government does this do away with adverse possession involving these properties? Quote Link to comment Share on other sites More sharing options...
SuperCharger Posted October 6, 2008 Share Posted October 6, 2008 Because of imminent domain doesn't the guvment own all the land anyway? Quote Link to comment Share on other sites More sharing options...
darin3 Posted October 6, 2008 Share Posted October 6, 2008 Because of imminent domain doesn't the guvment own all the land anyway? It's "eminent" domain. And uh... Quote Link to comment Share on other sites More sharing options...
SuperCharger Posted October 6, 2008 Share Posted October 6, 2008 It's "eminent" domain. And uh... Â Sorry, Im oveously not as edjucated as you are. Quote Link to comment Share on other sites More sharing options...
darin3 Posted October 6, 2008 Share Posted October 6, 2008 Sorry, Im oveously not as edjucated as you are. Yes, the government has already taken your brain via eminent domain. But of course, that was imminent. Quote Link to comment Share on other sites More sharing options...
H8tank Posted October 6, 2008 Share Posted October 6, 2008 Don't pay property taxes and get back to me on who 'owns' the land. Quote Link to comment Share on other sites More sharing options...
yo mama Posted October 7, 2008 Share Posted October 7, 2008 To an extent, its a state law issue. In some states the bank owns the property until the mortgage is paid off. In other states the homeowner owns the land and the bank merely has a lien against it. Of course, that assumes that the government is even buying mortgages to begin with. In addition, a lot of the subprime mortgages were packaged together like mutual funds and interests in the funds are what was bought and sold. So the ability of the federal government to forclose on the mortgages would depend on the nature of the assets that they've purchases. Quote Link to comment Share on other sites More sharing options...
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