We would like to find another home but are worried our landlord could sue us if she somehow saves the home. I have 2 kids and 2 dogs and it will probably take longer than a month just to find a rental that allows dogs. Also do I continue paying my rent to the owner? We were not listed in the court papers. I would also like to deduct my deposit from my September rent because I do not think I will be getting it back Is this legal????
Please help
2007-08-28 04:17:44 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Your lease is a contract between you and the current owner. It is valid as long as he owns the house so he is entitled to the rent until the foreclosure sale is complete. If it can be done peaceable, ask the landlord what his expectations are. If he expects to lose the house midway through a month you have paid rent for, he should repay you that part since the new owner has no obligation to you. Similarly, you could ask that your deposit be applied to upcoming rent. As a practical matter, the buyer at the foreclosure sale will probably be the lender and will want to resell the house to get it out of its real estate owned inventory. It will have to give you a reasonable amount of time to move because that is cheaper than the court costs of an eviction. If you have the resources and/or the credit rating, you could play lets make a deal with the buyer, if it is the bank, and offer to buy the house at a reasonable discount from the ordinary market price. Not having to pay 6% sales commission and the costs of cleanup and carrying the property for several months has a lot of value. If this sounds good to you, paying a real estate attorney for a short consultation about how to handle the transaction would be money well spent.
2007-08-28 04:47:31 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The owners financial issues are irrelevant to your contract until the time ownership changes .
You are liable for the lease until it expires or
A new owner takes possession .
She can sue you even if she does Not save the home , for all the months she does own it and any rent you default on while she does .
Again, deducting the deposit from rent is not legal per your contract .
You are in a tight situation , but the new owners
(the bank who is repo'ing ) may keep you as a tenant until they are able to sell .
Or you could make an offer to buy from them !
FYI - you were not listed in the court papers because
You are Not the owner .
>
2007-08-28 11:31:11 · answer #2 · answered by kate 7 · 2⤊ 0⤋
Look over your lease and contact real estate attorney immediately.
http://olgacooper.com/
2007-08-28 11:23:26 · answer #3 · answered by starz 1 · 1⤊ 0⤋