What are the rightsof tenantswho are renting a home afterit is lost by the owner?

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What are the rightsof tenantswho are renting a home afterit is lost by the owner?

We just received a notice that we need to live in 3 days. I believe we have the right to stay longer at least until we find a place to stay. Since we are just the people who rent not the owner who lost the house.

Asked on June 10, 2011 under Real Estate Law, California

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

You did not provide much by way of details but you shoul be aware that federal law gives some rights and protection to a tenant in the event that their rental unit goes into foreclosure. The “Protecting Tenants at Foreclosure Act” requires that when a home is foreclosed on, tenants who have a written lease can continue to occupy the home until the end of their lease or 90 days, whichever is longer. The only exception would be if the new owner intends to move in and occupy the home as their primary residence. In that case, a 90 day notice to move applies. Tenants with a month-to-month lease, or no lease at all, have to be given at least 90 days notice to move. Additionally, in cases where state law provides more protection than the federal law, state law applies.

You should be aware however that as long as the landlord remains the owner of record (i.e. still on the title to the property), the tenant must continue paying rent to them. Once titlke passes the landlord will no longer be the legal owner and the tenant will then be informed where to send their rental payments by the new owner. However the original landlord is still responsible for the return of the security deposit.

Finally, sometimes an incentive can be negotiated between a new owner and a tenant so that the tenant agrees to move out prior to when they are legally required to. This incentive is known as “Cash for Keys”. Basically, the owner will pay a tenant to leave the property early in exchange for a cash payment. The amount and timing of the payment can be worked out on a case-by-case basis.


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