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Condo Parcel Encumbered After Vacant Possession

239 Views  ⚫  Asked 1 Year Ago
asked on Jun 7, 2017 at 23:23
by   AnnieY
I am a cash buyer.  I took vacant possession last year.  Recently I checked with the bridging loan company and found that my unit is still encumbered.  The developer did not pay the redemption sum to the bridging loan company for one year ie since VP.  What can I do?  How can I force the Developer to settle the redemption sum as soon as possible?   Should I report to the police?
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answered on Jun 13, 2017 at 21:03
by   vkpc
Recently I checked with the bridging loan company and found that my unit is still encumbered.

Encumbered means you will not be able to sell the condo unit.
But since you can still sell, your unit is not encumbered.
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