Answers.com > Wiki Answers > Categories > Law & Legal Issues > Property Law > Can you bid on your own property at absolute auction?

Can you bid on your own property at absolute auction?

In: Property Law [Edit categories]

Answer:

Yes you can. BUT the bank/mortgage company will enter a bid equalling what is owed against the property.

First answer by ID1265205287. Last edit by Lhayward. Contributor trust: 210 [recommend contributor ]. Question popularity: 1 [recommend question].

[report abuse]

Can you answer these Property Law questions?

	What was Tecumseh's reply to the Treaty of Greenville?	Answer it!
	What kind of people can be pro and con for speedboat uses on lakes?	Answer it!
	What is tampering?	Answer it!
	What happens if you decide to sell your property when the property has a Allodial title?	Answer it!
	What did the Treaty of Greenville end?	Answer it!

What happens if you bid for your own Howrse in the Howrse auctions?
You can't bid on your horse. You can only cancel the auction.
If you own property do you own it to the center of the earth?
Generally, yes. In many places, one can hypothetically own land to the center of the planet. However, there are sometimes separate "mineral rights" one has to have in order to be able to, say, dig on...
Can a minor own property?
No. You must be 18 to own property. Until that age, any property must be held in trust for a minor.
Can the auctioneer bid at an auction?
No, it would be inappropriate and is even illegal in many circumstances (called shill bidding). It is completely illegal in the state of Pennsylvania. --- As with the seller, the auctioneer is...
Who owns the property of a llc?
A Limited Liability Company is a form of business that combines elements of both corporate structure and partnerships. It owns property like a company in the name of the LLC. Generally, an LLC owns...