I would like to know at this point, is the house still owned by the renter, or is it now "bank owned"
Until the property is actually sold, it is still your landlord's property and the landlord is entitled to the rent. The landlord might be negotiating with the lender as we speak, or planning to file a bankruptcy, or a short sale, or something to salvage his/her situation.
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You also need to be aware that you have the right to remain in the house even after the new owner obtains the certificate of title. If you have a written lease agreement with the landlord, federal law allows you to remain in the house for the remainder of the lease period. If your tenancy is month-to-month, you will have ninety (90) days before having to vacate.
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Landlord / Tenant Lawyer
The landlord/owner remains the person to receive rent until the ownership of the property changes. You can monitor the foreclosure case on the county court website. try a Google search of Lake County Clerk of Court and you should find it if you are in Clermont. When you get to the site, you will have to enter the property owners name under a civil search. If not, just replace Lake with the county you are.
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Landlord / Tenant Lawyer
Continue to pay rent to the current owner until the foreclosure sale date.
Even the morning of the sale, it may be canceled or re-set.
I would recommend paying the owner every month and on the beginning of the month that the sale is set for, pay a pro-rated amount of rent up to and including the sale date. Let the owner know (if they object) that you will pay them the rest of the month if they save the property through modification or if they buy back the property.
About ten days after the sale date, the certificate of title will be issued and as of that date, the successful bidder from the sale date will be the official new owner. They will probably contact you quickly. Let them know politely what the terms of your lease are and that you would or would not like to remain there as a renter. They are supposed to give you adequate notice (90 days' notice if you are a bona fide tenant.)
Good luck. Seek a consultation with a local landlord tenant lawyer or real estate attorney if you would like your rights and responsibilities explained in more depth.
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