If my landlord moved out and let the house go into foreclosure, as a renter do I have any rights?
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If my landlord moved out and let the house go into foreclosure, as a renter do I have any rights?
Asked on March 12, 2012 under Real Estate Law, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You only have very limited rights. Traditionally, foreclosure cut off the landlord-tenant relationship immediately, and the new owner of the proeprty after foreclosure (e.g. the bank, or someone buying from the bank in a foreclosure sale) could evict the tenant immediately. That changed during the financial/housing crises of 2008-09, when a number of states and also the federal government passed laws to provide some protection. While you should speak with an attorney about your specific situation to understand how the laws impact you under the circumstances you face, in brief, you should be able to get at least 90 days following foreclosure before you have to leave--and you could potentially get the full remaining balance of your current written lease term.
Of course, nothing stops you from contacting the bank or anyone who buys from it and offering to rent--or even purchase--from them; they are free to agree to this if they want.
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