The home I am renting is foreclosed, how long do I have before I have to vacant the place?

Question

Got the notice that the hosue has been sold to a realtor. I have to contact the person within 48 hours of notice. Legally, how long do I have before I have to vacant the place.

Answer 1

If you have a lease, you cannot be put out until your lease expires. The new owner must honor the lease. Additionally they must honor the security deposit you paid even if the prior owner did not hand it over to them.

Once the lease expires the new owner can give you whatever notice is stipulated in the lease and force you out at that time.

In some jurisdictions you can only be forced to move if the new owner wishes to use it as his or her own home. If they intend to continue to rent it out you may have a right to remain as long as you pay the stipulated rent. This is common in both NY and NJ.

If you do not have a lease, they can give you whatever notice is specified in state or local law and have you move. They must notify you in writing of this; verbal notice is not sufficient. Normally the requirement is 30 days. If you had a lease that is now month-to-month, the notice requirement in the lease is still valid.

Any notice must span one full rental period. If the notice requirement is 30 days and they give you notice on May 31st it becomes effective on June 30th. If they give you notice on June 2nd, it becomes effective July 31st.

If you are given proper notice and fail to move you can be evicted.

You are under no obligation to contact them within 48 hours though you may wish to do so to find out what they might have in mind.

Answer 2

Relax. They have to give you legal notice to vacate according to the laws of your State. They may ask to see your rental or lease agreement so they can comply with the terms of your agreement....or depending on your State Law, they may only be required to give you sufficient notice (most likely 30 days). If the home is to remain a rental, they may negotiate a new lease with you. If they do that, make sure you have someone present for a walk-thru so you are not held liable for any existing problems with the property.

Answer 3

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Answer 4

Different states have different laws about eviction. They may let you stay with a new contract because sometimes it's easier to sell rentals if they are already turning a profit. Is it a single dwelling house? If so you should probably start looking for a new home.

Answer 5

They have to give you notice. Usually it is 30 days. Sometimes the new owner will let you stay to fulfill your contract, but they don't have to because your contract is with another person, not them.

Answer 6

I believe the time is same as any other eviction--probably 60 days.