Default notice from previous owner

Discussion in 'Loans & Mortgage Brokers' started by ATANG, 14th Nov, 2019.

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  1. ATANG

    ATANG Well-Known Member

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    Received a letter from NAB addressing to an unknown person but i kinda recalled him as the guy who owned this property prior to the previous owner. I opened it and it is a default notice under consumer loan facility, saying if he doesn't pay the amount, they will sell the property (which is now mine) which secures the credit.

    Is this something of a concern? I dont understand how it could still be secured after its been sold and settled twice. Should i call the bank and ask?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Is your ownership registered?
     
  3. Air_Bender

    Air_Bender Well-Known Member

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    The bank will most likely not discuss or release any information regarding the debt to you seeing as how it's addressed to someone else. It could also be a scam. I have previously received scam emails asking me to update my banking details online and they looked pretty convincing.

    But if you believe this to be a genuine letter then it's probably best you get some legal advice to protect yourself.
     
  4. Trainee

    Trainee Well-Known Member

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    Wouldnt there have to be a caveat that would have shown up on title searches prior to settlement?
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    No
     
  6. Gill Bates

    Gill Bates Well-Known Member

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    Would not the (NAB) banks interest have been on the title, before your purchase ?
    I'd contact whoever did your conveyancing and ask for explanation .....
     
  7. ATANG

    ATANG Well-Known Member

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    Yeah, my solicitor just did a title search for me and confirmed NAB has no interest on the property so i could go and ask them to fxxx off.
     
  8. Scott No Mates

    Scott No Mates Well-Known Member

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    Or you could tell them in no uncertain words. :D
     
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  9. bunkai

    bunkai Well-Known Member

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    I wonder if they care, was the letter addressed to you.?
     
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  10. Joynz

    Joynz Well-Known Member

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    Might be a scam. If you do call NAB, don’t use the contact number in the letter!
     
  11. datto

    datto Well-Known Member

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    A rude finger gesture wouldn't go astray either. Just in case they are hearing impaired.
     
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