smart-law / smartlaw-trust

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Legal Process for Eviction/Possession in Event of Smart-Contract Default #16

Open zachdoty opened 6 years ago

zachdoty commented 6 years ago

Scenario: A beneficiary is also a resident of a residential property which is the Trust Property, and they use their beneficial interest as collateral to secure a secured party (lender). They miss payments and this triggers a smart contract auction to auction off the beneficial interest in the trust. The auction ends and the new winning bidder wants to rent out the property to new tenants, or move in. What is the eviction process? How many days?