I live in Aventura,FL and I been in this apartment since May, my second month here I got served with papers from her bank. I spoke to landlord and she said she was working things out, even so I kept getting letters from her bank and lawyers, and just 3 days ago I got a letter from the court WITH MY NAME stating that this apartment is on the process of foreclosure. I just would like to know if I could move out without getting into any legal trouble. Could i ask landlord if she would consider ending my contract? I just cant deal with this.
2007-09-02 05:40:52 · 2 answers · asked by anadali 2 in Business & Finance ➔ Renting & Real Estate
You have a while before you have to worry. Since your name is on the list of interested parties, expect to get a few more letters. Start packing when you get the letter announcing the date and time of the sheriff's sale.
You could ask your landlord to let you out of the lease but if your landlord is already having financial problems, it's unlikely he'd give up the rental income.
Worst case, you'll get a 30 day eviction notice after the sheriff's sale.
2007-09-02 05:52:52 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
Most banks keep commercial properties when they forclose and try to sell it off. Since most commercial properties generate income they will keep it as a bank repo and hire a management company to manage the apartments until they can sell it. Mostly when this happens the current lease you have will not change. If your lease ends before they sell it you will be given the choice to enter a month to month lease or move out.
2007-09-02 07:52:31 · answer #2 · answered by usinf 2 · 0⤊ 0⤋