Out landlord is being taken to court (end of Jan) for not paying his mortgage (God knows what he's been doing with my £800 a month!)
If he loses in Court and his property gets reposessed. What rights do I have? My lease is up at the end of Feb. Do I have to move out immediately? If not, to whom do I pay my rent? What's the deal with my deposit? Should I kiss that baby goodbye?
I await your legal advice!!!
2007-01-03 22:22:37 · 4 answers · asked by James M 2 in Business & Finance ➔ Renting & Real Estate
Your tenancy agreement will continue past the foreclosure/repossession process with full force and effect, to include your deposit. The new owner (bank or building society) must honor the agreement; they have no option on that.
The new owner will advise where to send the rent money and whether or not you will need to move house when the agreement expires.
2007-01-03 23:48:15 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Sorry to hear that. What a strange situation to find yourself in. I go through estate agents and the landlords do not usually get to keep the deposit it just sits in the bank and makes interest for estate agents.
Should they need to evict you I imagine they will give you 2 months notice, as usual in UK contracts. You shoud be able to get your deposit back as long as you have the landlord's signature on the dotted line confirming the amount etc.
I would try and call your local council for advise or go to a citizen adviser who should be at your local council.
Have you tried calling or visiting an estate agent? I know they may be nothing to do with your property or landlord, there are some people whow will genuine and will help you out for free.
Good luck and I hope you won't end up having to spend your deposit on a lawyer.
2007-01-04 06:37:54 · answer #2 · answered by Kitty Kat 2 · 0⤊ 0⤋
Probably it is goodbye to the deposit a I have a feeling you will be at the bottom of the list of creitors wanting their pieces of flesh.
GOODNEWS is that you can stay for quite some time. The bank will hvae to go throughthe courts to have you evicted as would you landlord. This will take ages unless you have been served a notice to quit at least thirty days prior to the tenancys end.
Look through your tenancy agreement, it is unlikely, but possible that you may be able to forfiet your deposit in leui of rent.
I would put the rent in the bank and look arounf for a new place but don't take the first **** hole, take your time, you don't have to go anywhere.
If, when you leave there has been no further demand for rent from the landlord then pay the difference between rent owed and deposit woed to you.
2007-01-04 06:29:13 · answer #3 · answered by Anonymous · 0⤊ 1⤋
When a house is sold in foreclosure auction the people current living there, weather it be the owners or tenants, now become tenants of the person who buys the house. It is up to them to either collect rent or go threw the courts to evict you. I doubt you will get your deposit back, but you might want to talk to a lawyer about that.
2007-01-04 10:46:35 · answer #4 · answered by strtat2 5 · 0⤊ 0⤋