Asked over 2 years ago - Riverdale, GAFlag
MY RENTAL IS BEING IN FORECLOSURE IM A TENANT WHO IS A LITTLE CONFUSED AS TO WHAT TO DO. IM RENTING FROM A REAL ESTATES COMPANY AND THEY ARE GOING THROUGH THE OWNER. NOW I HAVE BEEN GETTING CALLS ABOUT A SHORT SELL. THEY WANT TO PUT UP SIGNS AND TAKE PICTURES OF THE HOME SHOULD I ALLOWS THIS. IF THEY SELL MY HOME BEFORE MY LEASE IS UP DO I HAVE TO MOVE. DO I CONTINUE TO PAY MY RENT AND IF SO TO WHOM. PLEASE HELP.
Whether or not you must allow access to the home (to take pictures, put up signs, etc.) depends on the terms of your lease. If your lease provides that you are required to give access for checking on damages, attempts to obtain new tenants, etc., they you are expected to grant access. If not, there is no requirement.
No, you do not have to move unless or until a new owner requests that you move. Note: if such a request is made, you must be given at least 30 days to move. A new owner would also have to file an eviction in the event that you do not voluntarily vacate; they cannot simply change the locks.
Yes; you should continue to pay your rent. It should be paid to your landlord until you are informed that someone else owns the property. Make sure to keep proof of all payments that you've made.
DISCLAIMER: This answer is a general statement based on Federal and Georgia law, but is not legal advice. For advice specific to your circumstances, I would advise you to contact an attorney directly.
If you have a lease you have the right to remain in the home for the duration of the lease. If you don't they have to give you 90 days notice.
The Protecting Tenants at Foreclosure Act, Pub. L. No. 111-22, §§ 701-704 (2009), which became law on May 20, 2009, applies to state eviction proceedings.
This act requires that a new owner who took title to residential rental property through foreclosure must honor existing leases until the end of the lease term.
There are three exceptions to this rule: 1) if there is an existing term lease and the new owner wants to occupy the foreclosed property as a personal residence before the end of the lease term, 2) if there is an existing term lease with less than 90 days to the end of the lease term, or 3) if the existing lease on the foreclosed property is a month-to-month tenancy or a tenancy at will. In each of these cases, the owner must provide the tenant at least 90 days notice to terminate the tenancy.
You continue to pay rent to owner. If owner changes, pay rent to new owner. Work out something with existing owner so that you do not lose your security deposit.
Accommodate on short sale if owner lets you exhaust your security deposit on rent. Otherwise, limit access.
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.
When you are a tenant and the property you live in is in foreclosure, or the landlord has filed bankruptcy you need to keep a couple of things in mind.
First, while the landlord is on the Deed the landlord owns the property.
Second, a foreclosure lawsuit does not mean that the landlord will lose the property in foreclosure. The bank may not follow through or the landlord may salvage the property. As long as the Landlord is on the Deed they own the property and can collect rent.
Third, many times a landlord will file a bankruptcy to restructure the financing of the property. They are still the landlord.
As long as the landlord is on the Deed they can act to evict you. When the landlord is no longer the owner of the property you will be contacted by the new owner.
REQUEST: Please give this answer a "thumbs up"(below) if you find it valuable.
Disclaimer: This answer does not constitute legal advice. I am admitted in the States of New York, New Jersey and Massachusetts only and make no attempt to opine on matters of law that are not relevant to those three States. This advice is based on general principles of law that may or may not relate to your specific situation. Facts and laws change and these possible changes will affect the advice provided here. Consult an attorney in your locale before you act on any of this advice. You should not rely on this advice alone and nothing in these communications creates an attorney client relationship. The opinions expressed herein are those of the author only and the fact that he has worked as an Assistant District Attorney; State Supreme Court Clerk; Special Assistant United States Attorney (Hawaii); Assistant Cornell University Counsel or Judge Advocate, United States Marine Corps should not be relied upon to assume that these statements reflect the policy of these organizations.
In addition to the advice on the federal law protecting you as a tenant, know two things. First, the lease still applies and covers access to the property. Second, the security deposit is yours unless you violate the lease or state law gives it to the landlord because of damage.
[I am a Virginia-licensed attorney. This communication is intended as general information and not specific legal advice, and this communication does not create an attorney-client relationship.]
I hope this helps. If you think this post was helpful, please check the thumbs up (helpful) tab below. Thank you!
24,797 answers this week
2,568 professionals answering
Get answers from top-rated lawyers.
24,797 answers this week
2,568 professionals answering
Don't speak legalese? We define thousands of terms in plain English.Browse our legal dictionary