The owner of the house im living in has foreclosed on the property, do I have renters rights?

Answer 1

If you have a lease, it remains in full force and effect, assuming that the date of the lease pre-dates the filing of the foreclosure action.

If you are month-to-month, the new owner must give you at least the statutory minimum notice to quit, typically 30 days in most jurisdictions but 60 days in a few.

Answer 2

It depends on what the bank wants to do that is forclosing. Most likely this is a rental property for the current owner, so the bank would like to keep it rented to make money on the forclosed property while it goes through the system. My suggestion is to talk to the current landlord and see if you can find out what bank he foreclosed on and then contact them and see what the bank would like to do. Then once the bank takes possession then you would most likely pay them rent and whatever lease you have will then be turned into a month to month lease where once notified you would have 30 days to vacate. Hopefully, the person that buys the property will like to keep it a rental and would appreciate you still being there, because they don't have to look for a renter. But if a family buys the property then most likely you would have to vacate after 30 days...Luck of the draw, Good luck!

Answer 3

here is what is gonna happen-
this property will eventually go to sale (trustee sales, auction, sheriff sale ) wht ever you want to call it....but it is going to be bought by someone else.


you, have absolutely no rights and need to be out prior to that sale. once the new owner purchases the property they will most likely serve you immediately with a 30 day notice, and start eviction proceedings.

you need to find out when the sale is. you can do this by contacting your hall of records or local tax accessor and they may give you the name of the trustee holding the sale. you can contact them.

each state has a different timeline for foreclosures. below is a website that details what will happen and in what time period.

http://www.foreclosures.com/pages/state_laws.asp

make sure you get in touch with the trustee.
and YES your deposit is gone...it will not be returned.

good luck :)

Answer 4

You should have at least 30 days to move out by law in every state. Other than that, you may want to contact a lawyer to see if there is anything else that can be done. But it is not likely. The best thing you can do at this point is to look for another place. I wouldnt pay any more rent either.

Answer 5

Do you mean the bank is foreclosing on the owner of the prop your are renting or you bought the house owner contract and he is foreclosing on you? Either way your SOL.

Answer 6

watch the movie Duplex starring Ben Steller and Dru Barry More

Answer 7

no offense yet this thread of advice is undesirable. you have a settlement, it is your house of abode. you're able to desire to be evicted. the approach is stated as a forcible get admission to and detainer. interior of sight regulation enforcement can no longer come and lock up the area without writ of execution from the court despite if the valuables is bought or no longer. the recent proprietor can start up the eviction if the valuables is bought. the foreclosures is public checklist. examine the events to work out in case you have been named interior the in shape the two by potential of brand call or as resident. if no longer you cant be compelled to circulate away without the eviction. in many cases the economic corporation foreclosing on the valuables might have a rep touch you and attempt to get you out by potential of offering you cash to circulate away. its stated as a funds for keys transaction to steer away from evicting you for the time of the courts. despite if the valuables transferred vendors its nonetheless your house of abode and you're able to desire to be evicted for the time of the court to be compelled to circulate away. feels like the mgt co could be working with the economic corporation or new proprietor to get you out to shop themselves money. be happy to e mail me in case you're able to desire to talk this further and that i ought to deliver you some criminal components from my regulation place of work.

Answer 8

By law, they have to give you 30 days to move out.

Answer 9

I think it might vary state to state. Call your local landlord/tenant office, often found in the blue pages of your phone book.