NCB sets the record straight on Harvest Tabernacle sale

THE EDITOR, Sir:

We are disappointed that National Commercial Bank Jamaica Limited (NCB) was not contacted for a statement related to the article entitled "Harvest Tabernacle Church Evicted From Ferry Property Owned By NCB" published on April 20, 2017. We seek to clarify a few points noted in the article as it is important that the public be made aware of these facts so that they can protect themselves in similar transactions.

In order to address a long outstanding debt owed, NCB exercised its power of sale under the mortgage that had been used by our customer to secure the debt. Having entered into an agreement to sell the property, we became legally obligated to the purchaser. The property was transferred to the new lawful owner in 2014. The property was never owned by either Harvest Tabernacle Church or NCB, and NCB did not evict Harvest Tabernacle or at any time attempt to take possession of the property.

Harvest Tabernacle entered into an unauthorised sales agreement with our customer -- the previous mortgagor of the property. Because of our agreement to sell the property to another person, NCB was in no position to negotiate a sale to Harvest Tabernacle, and no sale agreements were ever in place between NCB and Harvest Tabernacle relating to this property. The occupation of the property and the subsequent changes made to it by Harvest Tabernacle were all unauthorised.

The Bank wishes for consumers to understand that it is critical that parties engaging in property transactions ensure they are entering into agreements with the lawful owners of the desired property (ies). In the event that there is a mortgage on the property, one must confirm that the lender approves of the sale or other transaction (including a lease) in writing.

National Commercial Bank