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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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My property is worth $2.9 million(3 waterfrount condominums

Customer Question

my property is worth $2.9 million(3 waterfrount condominums with 100 by 100 in land space).The bank forcloses on it and sells it for $900,000.the debt is $1.5 million. The judge told the bank that they can sell the property for what they want but if they under sell, they would be subject to damages because they do not have a right to reduce my equity. how do I address this to salvage some return ?the bank also took $10000 off of my account to do a declaration of condominium because I had a sale for $640,000 for I unit. The lawyer never registered the declaration so the bank sold the whole property.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
Is this a uk or USA law question please?
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
I am in the Bahamas, so its uk law, the judge said I would have to sue them because they do not have aright to reduce my equity
Expert:  Ash replied 1 year ago.
So it's negligence against your lawyer?
Customer: replied 1 year ago.
the bank took the money off of my account and they hired the lawyer and paid him
Customer: replied 1 year ago.
but he never registed the declaration
Expert:  Ash replied 1 year ago.
Ok. How much have you lost?
Customer: replied 1 year ago.
if i had sold the complex near market value I would have netted $1.4 million. So I have lost $1.41 million including legal fees which were taken off my account and the lawyer nor the bank never registered the transaction.
Expert:  Ash replied 1 year ago.
Ok. In that case this is negligence. In the uk you would send a pre action letter and then issue proceedings, I can tell you that process in the uk but can't tell you in the Bahamas.
But in the U.K. This is negligence which is common law. You need to eatables if they owed you a duty of care, If they breached it and then if there was a loss.
Can I clarify anything for you about this today please?
Alex
Customer: replied 1 year ago.
so they sold the property in forclosure at 2 million below the appraised value so what is .my line of action? Bahamas law is the same as UK law. This action also prevented me from selling the units individually
Expert:  Ash replied 1 year ago.
Yes it's still negligence under common law.
Alex