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  #1  
Old 07-10-2008, 10:15 PM
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Join Date: Jul 2008
Location: Hernando & Pinellas County, Florida
Posts: 1
Question

Foreclosure, owners bought as "SHELL"


What is the name of your state (only U.S. law)? Florida in Pinellas County.

The owners of a soon to be "foreclosed condo property" had Used their own monies in access of $75,000+ in customizing this home ~ because they bought it as a shell from the builders.
They had installed upscale chefs kitchen with custom sliders, pantrys, granite tops, wine racks, fine doors & hardware, a mater bath with spa-like qualitys, amazing welded banisters w/the stone steps and natural wood casings and so much more & took almost two years to finish as I had watched.
they had mentioned, if it does not get sold; they're talking about removing the Kitchen & cabinets, custom built Bathtub, most lighting fixtures, & banister, shall it goes into foreclosure (they literally built this condo from it being nothing but drywall, windows, & running units such as A/C~hotwater tanks ect).
They claim that the condo/home financing was only for the what the contract was for.

My question is; is this legal for them? What they added: with their personal finances... should not be within their financial blunder, and that they can remove these things without penalties? Is this wrong or right?

What do you think the legalities here are? As a neighbor & friend of them... I'm concerned for their well-being.
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  #2  
Old 07-11-2008, 08:35 AM
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Join Date: Feb 2007
Posts: 8,238
They are on thin ice.

Once you attach something to a structure it becomes part of the structure. This certainly includes interior finishes and most "stationary appliances".

If the house is in foreclosure, they are subjecting themselves to significant liability if they start removing fixtures.
  #3  
Old 07-11-2008, 06:15 PM
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Join Date: Jan 2003
Posts: 19,148
All those improvements, and they can't sell the place for enough to cover their "shell" mortgage?
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