Step 9 – Obtain possession

Tenanted properties

If a property is tenanted and the lease is registered then you cannot take possession until the lease expires. A lease cannot be registered without your consent. If you want to sell before the lease expires you can sell, subject to the lease. This is why it is important to ensure that any registered lease that is on the property when you make your loan is on commercially attractive terms.

Vacant properties

There is no need to go to court with a vacant property, all you need to do is tape a sign to a tree advising that you are mortgagee in possession.

Owner occupied properties

If the owner is occupying the property, whether it is a residential or a commercial property, you will need an order for eviction from the court.

Once the order has been obtained we will receive a date from the Sheriff and arrange a locksmith and a real estate agent to take possession of the property on your behalf. The date appointed is usually 2-3 weeks after judgment is obtained.