Default notice from previous owner

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?

 

Is your ownership registered?

 

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.

 

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

 

No

 

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 .....

 

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.

 

Or you could tell them in no uncertain words.

 

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

 

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

 

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