My fiance, me, and our new born son Hayden live with my fiances parents to catch up on some bills for a year. We did live with his parents in a rented house for a while and then the land lord decided that he wanted to move back in so he pretty much broke the lease and kicked us out. We all moved into a new house on Sept. 1st. I was pregnant at the time trying to get the house ready for our little one on the way. My son was born on the 20th and we just now got everything together and we are settled in. Last night we find out that the land lord of this house just commited suicide and now the bank is taking over the house and we have to move out of here by November 1st. I realize that the bank now owns the house but we all signed a lease for 1 year. Does that mean nothing now?? I am soooo upset and cant stop crying. This is the worst timing. Is there anything we can do. We really dont want to move.
We live in Indiana if that helps!!
2007-10-02 05:48:29 · 7 answers · asked by angel l 3 in Business & Finance ➔ Renting & Real Estate
I'm sorry for your problems; as a rule your lease dies when the owner dies. You can contact the bank and see what specifically is going on with the house. If it's sold and a new owner is taking posession, you could contact them and see if they want to lease or extend you for a while. If it's not sold, they might be willing to go a bit longer with you while they hunt for a buyer.
2007-10-02 05:52:30 · answer #1 · answered by wizjp 7 · 1⤊ 1⤋
It sounds as if the bank might be foreclosing on the property. The good news for you is that the process does take some time depending on the state you live in and how far into that time period you are. Check out this website for some info on time frame:
www.realtytrac.com/education/noframes/overview.html
The other unknown is if the landlord had anyone else on the title and who are the beneficiaries of his estate? Since the landlord is now deceased you may want to consult with an attorney to ask about what happens in the event of a death of the homeowner while in the middle of a foreclosure.
Call the bank and talk to them about the situation. They may not even be aware of his death. Ask if you can rent month to month until it is settled.
Regardless, you should relax, as this does take time and the sheriff does not just show up one day to throw you out as some may tell you. Do your homework, call the bank, call an attorney, and you will begin to feel much better. Even if you have to move, you have a wonderful new baby to love...celebrate your blessings!
2007-10-02 13:35:24 · answer #2 · answered by Christiane 3 · 0⤊ 1⤋
Unfortunately, there isn't anything you can do. It is a tragic set of circumstances, and I really feel for you. It seems like you have done the right thing.
Please understand that the date is a VERY firm date. Unless you have something in writing from the bank giving you an extention, you need to be out by that date before the Sheriff comes on that day and padlocks it shut.
2007-10-02 14:00:10 · answer #3 · answered by Expert8675309 7 · 0⤊ 1⤋
What a horrible situation. I'd call the bank and see if they are willing to work something out but it's doubtful. They are going to want to sell the house and get their money. Good Luck.
2007-10-02 13:15:07 · answer #4 · answered by taz4x4512 4 · 0⤊ 0⤋
Unfortunately, there's nothing you can do in this situation. Your landlord had a binding contract with the bank...he died....the bank has legal rights to repossess the house. You can contact the bank and make an offer on the house...maybe they'll give you a deal on the price.
2007-10-02 12:54:09 · answer #5 · answered by Calm 4 · 1⤊ 1⤋
Does the lease say anything like "if the house is sold the new landlord needs to keep the lease" or anything about the sale of the house?
2007-10-02 12:51:44 · answer #6 · answered by hottotrot1_usa 7 · 0⤊ 4⤋
You are caught up in the rat race. Unless the bank will give you a rental agreement, pack your trash. You will be on the move again.
2007-10-02 12:51:06 · answer #7 · answered by Anonymous · 0⤊ 4⤋