could i break my lease if the building is in foreclosure?

Question

my apartment is in foreclosure, and i want to move in october. could i break my lease without punishment?

Answer 1

no

at least, that is the case in most states [WHERE are you?]

***
you need to google your state's/location's laws on this matter to get clarity.

example: texas [which i recently looked up for these pages].

in texas, the buyer in a foreclosure has to give tenants 30 days notice to quit [the foreclosure extinguishes their leases UNLESS the lease was written before the lien attached] BUT

BUT, if the tenant has breached the lease (by not paying rent, for example), the buyer need only issue a three day notice of eviction.

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you NEED to read the law in your area and carefully. in the texas example, the buyer is NOT responsible for your security deposit and you have to sue the prior owner {GL on that -- he's likely stone broke.}

similarly, if you paid in the last month's rent in advance, the buyer isn't responsible for that either.

which really sets you up to take a hit -- the foreclosure sale date and your rental month likely do not terminate on the same day.


GL

Answer 2

You can't in CA, the foreclosure has nothing to do with you at all. People can not be made homeless because of this, the bank has to assume the lease.