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Vacant possession is not guaranteed. If the unit is still occupied by the previous owner(s) or is tenanted, upon receipt of Letters of Possession from the Trust, you will be responsible for ensuring that the property becomes vacant by serving a notice to quit on the occupants, and pursuing Court action for recovery of possession.
Private Treaty Sale is one of the methods used by financial institutions such as the NHT, to legally recover outstanding mortgage loans in default, and which are secured by properties such as residential homes.
