A family court order or civil court settlement may request Rural Bank to consent to the transfer of ownership of assets held as security. Rural Bank will consider this request and advise the borrower's legal representative.
If the request is declined, this may force the sale of the asset under the court order to repay the debt.
If the request is granted, this may also be releasing the asset owner and transferring their interest from the Rural Bank debt and the personal covenants.
For more information on family or civil court determinations, please contact your relationship manager or the customer service team.