During the 3 months given by the "Protecting Tenants at Foreclosure Act" do I have to pay rent to the bank or the new owner?

Asked about 1 year ago - Pembroke Pines, FL

I will need to save money for the new place plus moving costs since there is a big chance that the deposit money given to the landlord won't be returned. If the bank offers cash for keys can I still request my deposit to landlord?

Attorney answers (2)

  1. Barbara Billiot Stage

    Pro

    Contributor Level 19

    1

    Lawyer agrees

    Best Answer
    chosen by asker

    Answered . You pay rent to the owner -- whether its the bank or a third party. You should ask to see the certificate of title so you know you are paying the correct person/entity. The PTFA protects you to the end of your lease or for 90 days if the buyer is planning to use the home as their primary residence.

    This communication is not intended to create an attorney/client relationship. It is always recommended you consult... more
  2. Carol Lynne Zimmerly

    Pro

    Contributor Level 18

    2

    Lawyers agree

    Answered . Dear "During the 3 months":

    Yes, you still have to pay rent.
    The three months' notice you will receive (after receiving notice from the new owner) is longer than the fifteen days' notice requirement to terminate a month-to-month tenancy.

    If the bank offers cash for keys you can still request the deposit from the landlord. In the eyes of the law, it is your money. Be sure to read thoroughly any document offered by the bank. Look for any language regarding the security deposit.

    Good luck! If you are unsure, seek the opinion of a local attorney, who can go over the facts of your situation and advise you.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

27,633 answers this week

2,960 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

27,633 answers this week

2,960 attorneys answering