Possession proceedings are legal hearings to resolve disputes over property ownership, including divorce proceedings. In the UK, it also refers to mortgage foreclosure lawsuits. The court considers evidence of asset acquisition and pre/postnuptial agreements to determine property division. Foreclosure may be granted if the borrower cannot repay outstanding payments.
“Possession proceedings” is an umbrella term used to describe any judicial hearing whose purpose is to resolve a dispute over a piece of property. It can be used to describe an action to dispute the ownership of any property, but is more commonly used to describe the proceeding relating to the division of property after a divorce. In the United Kingdom (UK), tenure proceedings are the hearings of a court action in which a lender forecloses on a house if the mortgage holder defaults.
One of the main issues to be decided in a divorce is the division of property accrued by the ex-husband and wife during their marriage. Although the rules of division upon dissolution of a marriage vary from jurisdiction to jurisdiction, they are typically complex and based on the details of how and when each piece of property was purchased. Hearings where the court decides how to divide the property are called tenure proceedings.
In these divorce possession proceedings, several things need to be considered. Each party must present evidence of how and when the assets were acquired and argue, based on that evidence, how the law states that the property should be alienated. The disposition may be made in whole or in part to one of the parties or, if the nature of the object makes the subdivision in part impracticable, by sale and division of the proceeds. Furthermore, possession proceedings are those in which the courts consider the prenuptial or postnuptial agreements of the parties, if they exist. At the end of these hearings, the court will issue a decree describing how to divide the marital property.
In the UK, the term ‘possession procedure’ takes on a different meaning in the context of mortgages. Lenders can file a mortgage tenure lawsuit if the mortgage holder defaults on loan payments. Typically, this will be a relatively quick hearing where the creditor will summon the offending party to court to seek foreclosure. In the interest of public order, the borrower will be able to present the reasons for his insolvency at the time of the loan payment and argue that he will no longer be able to make payments in the future.
These mortgage tenure proceedings could have one of two outcomes. If the mortgage holder can prove that his inability to pay the loan is temporary, the court is likely to order the parties to work out a payment plan. However, if the mortgage holder cannot demonstrate that they are able to repay all outstanding payments and make the future payment schedule in a reasonable amount of time, foreclosure is likely to be granted.
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