If the home that I rent is going into foreclosure, can I break the lease and leave without penalty?
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If the home that I rent is going into foreclosure, can I break the lease and leave without penalty?
Asked on April 29, 2012 under Real Estate Law, Tennessee
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If and when the home is actually foreclosed upon, that will terminate your tenancy and the lease and you may leave without penalty. However, "going into" foreclosure is meaningless legally, since even if foreclosure is threatened or in the works, until and unless the home is foreclosed upon, your landlord is still the owner and is still providing you possession of the home as per the lease; therefore, until foreclosure actually occurs, you are still obligated under the lease.
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