Best Foreclosure Lawyers in Colombo

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Julius & Creasy
Colombo, Sri Lanka

Founded in 1879
200 people in their team
Sinhala
English
Tamil
Our HistoryWith its near 140 year history Julius & Creasy is one of the oldest law Firms in Sri Lanka, while also being the largest. Its reputation is one that has been built on rich tradition as well as the caliber of professionals passing through its corridors.The beginnings of the...
Melgate International (Pvt) Ltd
Colombo, Sri Lanka

Founded in 2000
50 people in their team
Sinhala
English
Tamil
WELCOME TO MELGATEWORK WITH IMMIGRATION ATTORNEYS & LEGAL EXPERTSMelgate is a specialized Immigration Law firm providing a full range of immigration services in your quest to migrate Canada, Australia, NZ, UK, USA or EU countries temporary or permanently and the firm has a global reach in vary...
de Livera Associates
Colombo, Sri Lanka

Founded in 1872
200 people in their team
Sinhala
English
Tamil
HISTORY & LEGAL INSPIRATIONThe Firm of De Livera Associates was founded, by Solomon Christoffel Obeyesekere De Livera, popularly known as Christo De Livera, on his retirement from the Attorney General’s Department of Sri Lanka, having served for a period of about three decades and who on his...
Dhammika Ranasinghe
Colombo, Sri Lanka

Founded in 1995
50 people in their team
Sinhala
English
Tamil
Experienced Partner with a demonstrated history of working in the legal services industry. Skilled in Securities, Corporate Law, Corporate Governance, Legal Research, Compliance and Foreign Investment. Strong entrepreneurship professional with a Attorney At Law of the Supreme Court of Sri Lanka...
Neelakandan & Neelakandan
Colombo, Sri Lanka

Founded in 1962
200 people in their team
Sinhala
English
Neelakandan & Neelakandan (formerly Murugesu & Neelakandan) is one of the leading and oldest full-service law firms in Sri Lanka and has been in practice for almost 60 years.The Firm was founded in 1962 by the late Mr. Velupillai Murugesu, and built to be recognised as one of the most...
Paul Ratnayeke Associates
Colombo, Sri Lanka

Founded in 1987
50 people in their team
Sinhala
Tamil
English
Paul Ratnayeke AssociatesPaul Ratnayeke Associates was founded in 1987 by its Senior Partner, Mr. J. H. Paul Ratnayeke to create a more focused, efficient and responsive practice in the fields of Corporate, Commercial, Litigation and Financial law.The firm ensures that all clients’ legal needs...
Layards and Stuart
Colombo, Sri Lanka

Founded in 2000
50 people in their team
Sinhala
Tamil
English
Who we are and how we workLayards & Stuart is a law firm based in Colombo, Sri Lanka providing quality legal advice, solutions and representation to both local and international corporate clients. Our experience in cross-border and emerging economies gives us the market perspective to be your...
Simon & Associates
Colombo, Sri Lanka

Founded in 2002
50 people in their team
Sinhala
English
Tamil
Simon & Associates is one of Sri Lanka’s leading legal firms, providing legal counsel and corporate secretarial services to portfolio consisting of local and multinational clients.Led by Simon Senaratna who brings substantial experience in the legal and business sectors, together with Nirosha...
Gregory's Partners
Colombo, Sri Lanka

Founded in 1970
200 people in their team
Sinhala
English
Tamil
AboutThe Sri Lankan economy and therefore its legal system has traditionally been influenced by the island’s colonial past. Thus, the legal profession in Sri Lanka was traditionally divided into two fractions based on functionality influenced by a similar divide in the English Legal system.The...
Invictus Law
Colombo, Sri Lanka

Founded in 2000
50 people in their team
Sinhala
English
Tamil
Invictus Law is a modern and progressive law firm providing a comprehensive range of legal services and solutions for both domestic and international clients.We pride ourselves in providing timely, practical & commercially sensible solutions to our clients and we specialize in multiple fields...
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About Foreclosure Law in Colombo, Sri Lanka

Foreclosure is a legal process that allows a lender to sell or take possession of a property when a borrower has failed to meet their mortgage obligations. In Colombo, Sri Lanka, foreclosure is regulated by specific laws and regulations to protect both lenders and borrowers.

Why You May Need a Lawyer

There are a few common situations where seeking legal help in foreclosure is advisable:

  • When you are at risk of losing your home due to defaulting on mortgage payments
  • If you believe you have been treated unfairly by the lender during the foreclosure process
  • When you need assistance negotiating with your lender to find alternatives before foreclosure
  • If you suspect any illegal practices by the lender, such as predatory lending

Local Laws Overview

In Colombo, Sri Lanka, the primary legislation governing foreclosure is the Mortgage Act No. 6 of 1949 and the Recovery of Loans by Banks Act No. 4 of 1990. These laws outline the procedures for foreclosure and provide safeguards for borrowers. It is essential to understand these laws and how they apply to your specific situation if you are facing foreclosure in Colombo.

Frequently Asked Questions

Q: What are the foreclosure procedures in Colombo, Sri Lanka?

A: The foreclosure process typically involves the lender issuing a notice of default to the borrower, followed by filing a lawsuit in court. If the court rules in favor of the lender, the property may be sold through a public auction to recover the outstanding debt.

Q: Can I stop foreclosure in Colombo?

A: Yes, there may be options to stop or delay foreclosure, such as negotiating with your lender for a loan modification, refinancing, or filing for bankruptcy. Consulting with a lawyer can help you understand the available alternatives and their viability.

Q: How long does foreclosure take in Colombo?

A: The duration of a foreclosure process can vary depending on several factors, including the complexity of the case and the workload of the court. On average, it can take several months to a year for the foreclosure process to complete.

Q: Can I redeem my property after foreclosure in Colombo?

A: Sri Lankan law doesn't provide for a statutory right of redemption after foreclosure. However, it is advisable to consult with a lawyer as certain circumstances may grant you the opportunity to redeem the property.

Q: Do I need a lawyer for the foreclosure process in Colombo?

A: While it is not mandatory to have legal representation, it is highly recommended. A lawyer familiar with foreclosure laws can guide you through the process, protect your rights, and help explore possible strategies to mitigate the impact of foreclosure.

Additional Resources

If you require further information or assistance related to foreclosure in Colombo, Sri Lanka, consider referring to these resources:

  • Colombo District Court
  • Bar Association of Sri Lanka
  • Consumer Affairs Authority

Next Steps

If you need legal assistance in the field of foreclosure in Colombo, Sri Lanka, follow these steps:

  1. Gather all relevant documents related to your mortgage, default, and communications with your lender.
  2. Research and shortlist experienced foreclosure lawyers in Colombo.
  3. Schedule consultations with potential lawyers to discuss your case and evaluate their expertise.
  4. Select a lawyer who best understands your needs and has a track record of successful foreclosure representation.
  5. Engage the chosen lawyer and provide them with all the necessary information to initiate the legal process and protect your interests.
Lawzana helps you find the best lawyers and law firms in Colombo through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Foreclosure, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Colombo, Sri Lanka - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.