Best Foreclosure Lawyers in Sri Lanka

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Nithya Partners
Colombo, Sri Lanka

Founded in 1997
50 people in their team
Sinhala
Tamil
English
INTRODUCTIONNithya Partners was established in 1997 with the goal of delivering a modern and responsive service in corporate and financial law. The Firm is led by a group of Partners who combine a unique blend of multi-disciplinary experience along with an extensive knowledge base of several years...
Riktha Legal Services
Nugegoda, Sri Lanka

Founded in 2015
50 people in their team
Sinhala
English
Tamil
Why Choose Our FirmKnowledgeable, Experienced And Efficient Team Of Lawyers Consisting Of Subject Matter ExpertsDedicated Client Servicing ArmAn Operation Based On Corporate Best PracticesTailor Made Pragmatic Solutions For Your Legal Requirements With Quick TurnaroundsDedicated Arm To Carryout...

Founded in 2000
50 people in their team
Sinhala
English
Tamil
About UsPrasanna Karunasekara Law Chamber (PK Law Chamber) is a Law Chamber working with a team of highly skilled law partitioners. The rapidity with which, Prasanna Karunasekara Law Chambers (PK Law Chambers) has reached its goals, while offering a broad range of practice areas, we take pride in...
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...
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...
DIMEAN LAW CHAMBERS
Colombo, Sri Lanka

Founded in 2000
50 people in their team
Sinhala
English
Tamil
DIMEAN is a premier law firm based in Colombo, Sri Lanka. We aim to provide a personalized service tailored to the specific requirements of our clients. Our attorneys aim to provide innovative legal solutions in various disciplines.DIMEAN is established by a blend of young...
ATD Legal Associates
Kurunegala, Sri Lanka

Founded in 1976
10 people in their team
 Welcome to ATD Legal Associates Innovative Legal Solutions for a Digital and Global EraAt ATD Legal Associate  we specialize in navigating the complexities of modern legal landscapes. From safeguarding your intellectual property to ensuring compliance with international data privacy...
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...
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...
A & N Partners
Colombo, Sri Lanka

Founded in 2003
50 people in their team
Sinhala
English
Tamil
About UsA & N PARTNERS group was established in 2003 with the sole objective of providing an efficient and personalized service in all aspects of corporate, property, commercial, industrial, civil & criminal law and all aspects of the Human Resource Management. We are committed towards...
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About Foreclosure Law in Sri Lanka

Foreclosure is the legal process by which a lender can repossess a property when the homeowner fails to make mortgage payments. In Sri Lanka, the foreclosure process is governed by specific laws and regulations to protect both the lender and the homeowner.

Why You May Need a Lawyer

There are various situations where you may need a lawyer for foreclosure in Sri Lanka, such as negotiating with the lender, defending against a foreclosure action, or seeking alternatives to foreclosure like loan modification or short sale.

Local Laws Overview

Under the Mortgage Act No. 06 of 1949, a lender must follow specific procedures to foreclose on a property in Sri Lanka. These procedures include providing notice to the homeowner, obtaining a court order, and conducting a public auction to sell the property.

Frequently Asked Questions

1. What is the foreclosure process in Sri Lanka?

The foreclosure process in Sri Lanka involves the lender initiating legal proceedings against the homeowner for non-payment of the mortgage. This process includes providing notice to the homeowner, obtaining a court order, and conducting a public auction to sell the property.

2. Can I stop a foreclosure in Sri Lanka?

It is possible to stop a foreclosure in Sri Lanka by negotiating with the lender, seeking a loan modification, or defending against the foreclosure action in court. A lawyer can help you explore your options and protect your rights.

3. What are my rights as a homeowner facing foreclosure?

As a homeowner facing foreclosure in Sri Lanka, you have the right to receive notice from the lender, defend against the foreclosure action in court, and seek alternatives to foreclosure like loan modification or short sale.

4. How long does the foreclosure process take in Sri Lanka?

The foreclosure process in Sri Lanka can vary in length depending on the specific circumstances of the case. It typically takes several months to a year from the time the lender initiates legal proceedings to the public auction of the property.

5. Can I file for bankruptcy to stop a foreclosure in Sri Lanka?

Filing for bankruptcy can temporarily stop a foreclosure in Sri Lanka by triggering an automatic stay on all debt collection activities, including foreclosure proceedings. However, it is essential to consult with a lawyer to understand the potential implications of bankruptcy on your foreclosure case.

6. What are the consequences of foreclosure in Sri Lanka?

The consequences of foreclosure in Sri Lanka may include losing your home, damaging your credit score, and being responsible for any remaining mortgage debt after the sale of the property. It is crucial to seek legal advice to understand your rights and options in a foreclosure case.

7. Can I sell my home to avoid foreclosure in Sri Lanka?

Selling your home through a short sale can be an option to avoid foreclosure in Sri Lanka. A short sale allows you to sell the property for less than the outstanding mortgage balance with the lender's approval. A lawyer can help you navigate the short sale process and negotiate with the lender.

8. How can a lawyer help me with foreclosure in Sri Lanka?

A lawyer can help you understand your rights in a foreclosure case, negotiate with the lender on your behalf, defend against the foreclosure action in court, explore alternatives to foreclosure like loan modification or short sale, and ensure that the lender follows the proper legal procedures throughout the process.

9. What are the alternatives to foreclosure in Sri Lanka?

Alternatives to foreclosure in Sri Lanka may include negotiating with the lender for a loan modification, pursuing a short sale of the property, refinancing the mortgage, or filing for bankruptcy. It is essential to consult with a lawyer to explore these options and determine the best course of action for your situation.

10. How can I find a lawyer for foreclosure in Sri Lanka?

You can find a lawyer for foreclosure in Sri Lanka by contacting the Sri Lanka Bar Association, seeking recommendations from friends or family members, or searching online for legal professionals with experience in real estate and foreclosure law. It is crucial to choose a lawyer who has expertise in foreclosure cases and can provide you with the necessary legal guidance and support.

Additional Resources

If you need further assistance with foreclosure in Sri Lanka, you can contact the Department for Registration of Persons, the Sri Lanka Real Estate Board, or the Legal Aid Commission for information on legal resources and support services available to homeowners facing foreclosure.

Next Steps

If you are facing foreclosure in Sri Lanka or have questions about the foreclosure process, it is essential to seek legal advice from a qualified lawyer who can guide you through your options and protect your rights. Contact a lawyer specializing in real estate and foreclosure law to discuss your case and determine the best course of action to address your foreclosure concerns.

Lawzana helps you find the best lawyers and law firms in Sri Lanka 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 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.