Can a tenant circumvent foreclosure on a house by offering to buy it from the mortgage company if the owner is in default and is refusing to sell?

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Can a tenant circumvent foreclosure on a house by offering to buy it from the mortgage company if the owner is in default and is refusing to sell?

We live in a home with my father.My brother-in-law swindled my father out of tbe house years ago but having him sign it over and convinced my elderly father to not get a lawyer and

Asked on July 2, 2019 under Real Estate Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

No, tenants lack an ownership interest in the house and don't have a right to redeem it from foreclosure; and if you (or anyone) paid the default prior to foreclosure, you'd redeem for the owner--your brother-in-law.
You can try to buy it from the bank after foreclosure, but that's the best you can do and the only way to get it.


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