Guiding Principles on security of tenure for the urban poor 2014, para. 49
Paragraph- Paragraph text
- Regulatory safeguards should be put in place to protect households facing default and foreclosure, including prohibiting eviction until the household has access to alternative adequate housing. In England and Wales, a pre-action protocol for possession claims obliges lenders and borrowers to follow procedures aimed at ensuring that repossession is a last resort after all reasonable attempts to resolve the situation have failed. In Richmond, California, the municipality voted to use its powers of eminent domain to seize mortgages of households that have defaulted or are at risk of default, when the investor refuses to sell. Under the scheme, the City pays the investor the current market value for the mortgage, often considerably less than the amount owing, and then supports affordable refinancing options for the homeowner. A decree-law in Andalucía, Spain, currently under appeal, allows the local Government to expropriate empty residences that have been repossessed by banks and developers in order to house families who have lost their homes.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on adequate housing as a component of the right to an adequate standard of living
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Economic Rights
- Governance & Rule of Law
- Person(s) affected
- Families
- Year
- 2014
- Paragraph type
- Other
- Reference
- SR Housing, Report to the HRC (2014), A/HRC/25/54, para. 49.
- Paragraph number
- 49
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