Actual tenants may be protected in the foreclosure process under the Protecting Tenants at Foreclosure Act. This act would apply to tenants. From the facts it doesn't appear that you are a tenant. A tenant would be under a lease or implied tenancy before or after a formal lease. At some point. the LL would have to accept rent. Since none of these scenarios appears to apply, you may not be a tenant. Therefore there a few if no protections for you under foreclosure. The process of foreclosure and sale would take time and the bank would have to have some interest in the home to remove you.
Ian A. Taylor
The Taylor Law Office L.L.C. | (843) 314-4313
Pawleys Island, SC (serving Georgetown and Horry)
Estates. Probate. Adult Guardianship. Landlord-Tenant. Insurance.
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SC Supreme Court Administrative Order 011-05-02-01 generally requires the foreclosing bank to go through stringent loss mitigation efforts and mediation prior to an order of foreclosure and possession is issue. Therefore, foreclosures must go through considerable time and effort until the foreclosure "goes through."
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