Have 21 mo. left on lease. House placed in Short sale : can new owners void our lease? House not in foreclosure

Asked almost 2 years ago - San Clemente, CA

We want to record lease: get our deposits into escrow so $ not lost: as well as funds to cover current lease agreement for yard maintenance.

Attorney answers (2)

  1. Richard Alan Rodgers

    Contributor Level 16

    3

    Lawyers agree

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    Answered . Your lease is senior to the grant deed transferring title to the property at the close of the short sale escrow, so the sale to the new owner is subject to your pre existing lease. The new owner will be the landlord under the lease. There is no need to record the lease. There is no legal remedy or right to have your security deposit put into escrow. As a successor in interest, the buyer will be responsible for your security deposit, unless the seller returns it to you before close of escrow. [See Civil Code 1950.5(h)]

    Richard A. Rodgers, Esq.
    (805) 230-2525
    200 N. Westlake Blvd. Ste 201
    Westlake Village, CA 91362
    rar@sd-attorneys.com
    www.sdresq.com

    As stated in the AVVO.COM Terms and Conditions of Use, this answer is not intended as legal advice, and no... more
  2. Frank Wei-Hong Chen

    Contributor Level 20

    Answered . I agree with Attorney Rodgers. The new owners take title subject to your existing lease.

    Frank W. Chen has been licensed to practice law in California since 1988. The information presented here is... more

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