According to relevant laws and regulations, if the property is auctioned by the bank due to loan default, the remaining money will be used to pay off the loan and related expenses. If there is any money left after paying off the loan and related expenses, the money will be returned to the owner. However, it should be noted that before the auction, the bank will first evaluate the price of the property and submit the evaluation results to the creditors for approval. Only after approval is obtained can the bank conduct the auction. Therefore, even if the property is auctioned, there may not be a balance that can be returned to the owner. In addition to the ownership of the remaining money, the auction of foreclosed real estate will also involve other legal issues, such as the transfer of property rights and the transaction between buyers and banks. Therefore, in this case, it is recommended to consult a professional legal adviser in time.
The property is auctioned by the bank, and the remaining money is not enough to pay off the loan and related expenses. What should the owner do? If the remaining amount is not enough to pay off the loan and related expenses, the bank still has the right to recover the difference from the owner. If the owner can't repay the loan, it may lead to more legal problems, such as the debtor's credit record and whether the auction form conforms to laws and regulations. In this case, it is suggested to seek the help of professional legal counsel as soon as possible, solve the problem of arrears through consultation, and formulate the corresponding repayment plan.
Auction of foreclosed property is a serious legal issue, involving many legal details and procedures. In this case, it is suggested to consult a professional legal adviser in time in order to work out the most suitable solution.
Legal basis:
Article 37 of the People's Republic of China (PRC) Urban Real Estate Management Law shall not transfer the real estate that has not been registered according to law and obtained the ownership certificate, which is a mandatory norm. But for legislative purposes. Look, the purpose of this clause is to maintain the order of the real estate market and restrict the transfer of real estate with unknown rights holders, rather than prohibiting transactions or restricting freedom of contract. Judging from the object of the act stipulated in this clause, it is forbidden to directly register the transfer of ownership, nor does it stipulate that other transfer acts other than ownership are invalid, such as the transfer of the right to use. Therefore, this clause is not an effective norm. As can be seen from the above explanation, houses without property rights certificates can enter the market after being publicly sealed up for sale and the ownership is clear. Article 8 of the Auction Law of People's Republic of China (PRC) * * * Articles or property rights subject to examination and approval according to law or the State Council regulations shall go through the examination and approval procedures according to law before auction. Before the auction, the cultural relics entrusted for auction shall be appraised and approved by the cultural relics administrative department of the auctioneer's domicile. Article 9 Articles confiscated by state administrative organs according to law, articles used to offset taxes and fines, and other articles that should be entrusted for auction as stipulated by the State Council shall be auctioned by auctioneers designated by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government where the property is located and the people's governments of cities divided into districts. The provisions of the preceding paragraph shall apply to the auction of articles confiscated by the people's court according to law, articles used to offset fines and recovered articles that cannot be returned.