Best Foreclosure Lawyers in Dhaka

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OGR Legal
Dhaka, Bangladesh

Founded in 2000
50 people in their team
Bengali
English
OGR Legal is a Bangladeshi law firmwith a rare and invaluable grasp of strategic commercial and practical issues. We combine exceptional legal expertise with deep industry knowledge and refreshingly creative thinking, to help clients achieve their goals. We provide with a full law service to...
Tanjib Alam and Associates
Dhaka, Bangladesh

Founded in 2009
50 people in their team
Bengali
English
Tanjib Alam and Associates is a fully fledged law firm in Bangladesh consisting of associates with vast experience in corporate and commercial practice in Bangladesh. Tanjib Alam and Associates takes pride in serving its clients and is one of the very few law firms in Bangladesh who has a strong...

Founded in 2000
50 people in their team
Bengali
English
ABOUT USSyed Ishtiaq Ahmed & Associates (SIA&A) is a leading law firm in Dhaka, Bangladesh.  SIA&A is the Chambers and law firm established by the Late Mr. Syed Ishtiaq Ahmed, a barrister and senior advocate of the Appellate Division of the Supreme Court of Bangladesh. Mr. Ahmed...
Grays Chambers
Dhaka, Bangladesh

Founded in 2000
50 people in their team
Bengali
English
AboutA GLIMPSE OF OURSGRAYS CHAMBERS is a vibrant law firm accommodating a number of young and bright lawyers. We are capable of meeting the demands of the growing world of divergent legal issues and maintain high professional standards. While serving corporate firms and companies efficiently, we...
Kayes & Associates

Kayes & Associates

30 minutes Free Consultation
Dhaka, Bangladesh

Founded in 2013
7 people in their team
English
Kayes & Associates is one of the leading new-generation law firms of Bangladesh. The firm’s practice is predominantly business oriented, providing comprehensive advice to clients ranging from individuals, banks, small business, and governmental entities to large privately held national and...
A.S & Associates
Dhaka, Bangladesh

Founded in 2000
50 people in their team
Bengali
English
A.S & Associates is a leading Bangladeshi law firm based in Dhaka with a branch office at Mymensingh and a networked legal firm at Moulvibazar, Sylhet. The firm provides a comprehensive range of modernized legal services for both national and international clients.A.S & Associates was...
MANA Associates
Dhaka, Bangladesh

Founded in 2007
50 people in their team
Bengali
English
MANA AssociatesWith an aim to offer solutions to both domestic and international clients, MANA Associates has began its journey in 2007. Since its establishment, MANA Associates has become a full service firm offering services over a wide spectrum of industries. Its versatile and efficient team...
Primus Legal (Law Firm)
Dhaka, Bangladesh

Founded in 2011
50 people in their team
Bengali
English
Our MissionOur aim is to satisfy our clients through a deep understanding of their needs, their businesses, and their industries, and by providing excellent, responsive, and innovative service. Our experience tells this style leads to a close working relationship between a client and a lawyer.Our...
Sattar&Co.
Dhaka, Bangladesh

Founded in 2013
50 people in their team
Bengali
English
About Sattar&Co.Sattar&Co. is a high-calibre law firm with a combination of in-depth specialist skills and overarching understanding of the legal framework in Bangladesh. Sattar&Co.’s excellent service and practical know-how have been consistently recognized and recommended by leading...
Tuhin & Partners

Tuhin & Partners

15 minutes Free Consultation
Dhaka, Bangladesh

Founded in 2019
7 people in their team
English
Bengali
Background:TUHIN & PARTNERS was founded in 2019 with a clear vision: to develop an entire Corporate legal, tax, and compliance for advising business, including in expertise the countries we serve and professional abilities in our essential specialty. Our Firm aims to provide skilled...
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About Foreclosure Law in Dhaka, Bangladesh

Foreclosure in Dhaka, Bangladesh, refers to the legal process through which lenders reclaim property from borrowers who have failed to meet the terms of their mortgage contract, typically due to non-payment. The process involves the forced sale of the property to recover the outstanding loan balance. This legal mechanism ensures that lenders can secure their financial interests while navigating the complexities of Bangladesh's real estate and financial laws.

Why You May Need a Lawyer

There are several situations where individuals may need legal assistance in foreclosure cases:

Understanding Legal Rights: Navigating foreclosure processes requires a deep understanding of legal rights and obligations under Bangladeshi law.

Negotiating with Lenders: A lawyer can facilitate negotiations with lenders to seek alternatives to foreclosure, such as loan modification or short sale.

Responding to Foreclosure Notices: Receiving a foreclosure notice is a critical moment where legal advice is crucial to know how to proceed.

Protecting Property and Assets: Legal counsel helps in devising strategies to safeguard one's assets and property rights in the face of foreclosure proceedings.

Local Laws Overview

In Dhaka, Bangladesh, foreclosure proceedings are influenced by a range of local laws that determine how foreclosures are handled:

The Artha Rin Adalat Ain (Bank Loan Court Act) 2003: This is the primary legislation governing foreclosure in Bangladesh. It provides the legal framework for financial institutions to recover defaulted loans.

Transfer of Property Act 1882: This act outlines the rights and duties of borrowers and lenders concerning the mortgage of immovable property.

Recovery of Debts due to Banks and Financial Institutions Act 2003: This law establishes special courts for expediting the recovery process by financial institutions from defaulting borrowers.

Frequently Asked Questions

What is foreclosure in Bangladesh?

Foreclosure is the legal process through which a lender repossesses a property when a borrower defaults on mortgage payments.

How long does the foreclosure process take?

The duration can vary based on specific circumstances and the legal process involved, but it generally takes several months to complete.

Can foreclosure be avoided?

Yes, through negotiations with lenders, securing a loan modification, or opting for a short sale, foreclosure may be avoidable.

What are the legal rights of a borrower in foreclosure?

Borrowers have the right to receive proper notice, the opportunity to rectify the default before auction, and appeal against foreclosure decisions.

How is the property's value determined in a foreclosure sale?

The property's value is determined through a valuation process which considers market rates and conditions before being offered at auction.

Do I need an attorney to fight foreclosure?

While it is not mandatory, having legal representation significantly improves the chances of a favorable outcome in foreclosure cases.

What happens to my debt if my property is foreclosed?

If the property's sale does not cover the outstanding debt, the borrower may be responsible for the deficit, known as a deficiency judgment.

Can rental properties be foreclosed?

Yes, rental properties can also face foreclosure if mortgage payments are not maintained.

Is bankruptcy an option to stop foreclosure?

Filing for bankruptcy can temporarily halt foreclosure, providing time to reorganize debts or negotiate with lenders.

What is a “stay of foreclosure proceedings”?

A stay is an order by the court to temporarily stop the foreclosure process, usually issued when a borrower disputes the foreclosure or seeks bankruptcy protection.

Additional Resources

For individuals seeking further assistance and information, several resources and organizations can be of help:

Bangladesh Bank: As the central bank, it provides guidelines and support relating to financial regulations and borrower rights.

Dhaka Bar Association: Offering access to legal practitioners who specialize in foreclosure law.

NGOs and Legal Aid Organizations: Such organizations may provide free or reduced-cost legal advice to those in need.

Next Steps

If you are experiencing or anticipate foreclosure, consider the following steps:

Consult a Lawyer: Engage with a legal professional specializing in foreclosure to understand your rights and options.

Communicate with Your Lender: Proactively discuss possible solutions to avoid unsavory outcomes.

Gather Documentation: Compile all relevant documents, including mortgage contracts, payment records, and court notices.

Explore Alternatives: Investigate possible alternatives such as loan restructuring, refinancing, or short sales.

By taking these proactive steps, you can better safeguard your interests and navigate the foreclosure process with informed decisions.

Lawzana helps you find the best lawyers and law firms in Dhaka 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 Dhaka, Bangladesh - 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.