Is it the new owner or the first two owners under a foreclosure sale that can break a lease for owner occupancy?

Asked about 1 year ago - Marathon, FL

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I am not sure about these details and what exactly they mean, someone on this site wrote this "The Act requires that the 90 day notice be effective the date of the sale, which means the purchaser from the bank must decide if it intends to occupy the premises as a primary residence no less than 90 days before the effective date of the sale, or the Tenant retains its rights under the Act to stay for the full lease term."
so does this mean that the buyer at the foreclosure auction, if they are not a bank, but a private mortgagee who foreclosed, can subsequently sell the property to someone else, and those new buyers then can still evict you with 90 days if they intend to live there?

Attorney answers (1)

  1. Licensed in FL

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    Orlando Residential Real Estate Lawyer
    Contributor Level 18

    Answered April 25, 2012 03:14. There are different options for termination in the Act. If there is a valid lease entered into before the foreclosure was filed the full term of the lease must be honored. If the lease was entered into after the foreclosure was filed the new owner can terminate the lease with a 90-day notice.

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

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