Taking Appliances & Fixtures After A Foreclosure

If you have a home that is foreclosed on, it is very common to wonder what you are legally permitted to take from the home. Are you permitted to take the appliances such as the stove, refrigerator, washer & dryer, microwave, dishwasher, etc...? Can you take ceiling fans, chandeliers, light fixtures, etc...? While this is a very grey area, and while taking more than you should is not usually pursued by the lender, completely stripping your home after it is foreclosed upon is never a good idea.

You are free to take any personal property from the residence, but all fixtures must remain. A fixture is a piece of personal property that is permanently affixed to real estate, itself becoming real estate. Each state defines "fixture" and "personal property" differently so be sure to check with local authorities.

Fixtures must remain with the property during a forclosure. In determining what is a fixture courts look at five factors.

1. The method of attachment. Can the fixture me removed with out damage to the property?
2. Adaptability. Is the item specifically built for the property?
3. Intention of the parties.
4. Agreement of the parties.
5. Relationship of the parties.

You are also responsible for any damage you may cause to the property after the foreclosure. Although many times the bank will not pursue you for minor damage causing major damage to the home when removing things like appliances may wind up costing you money to repair!

As with most legal matters governing foreclosures and property, there is a huge variance in the letter and interpretation of the law from jurisdiction to jurisdiction. Make sure you seek local legal counsel before taking any action post-foreclosure.

In most cases, unattached property (non-real-estate) is not considered part of the "real property" rights acquired or sacrificed in foreclosure process. Check with the laws your particular state to verify this infomation.

» DISCLAIMER: The information contained in this article on 'Taking Appliances & Fixtures After A Foreclosure' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.