My son and 2 friends (college students) rent a duplex unit in Rome, GA. This unit is managed by a local real estate company, but is owned by an individual. A letter was sent to the unit on April 14, but was addressed to the owner. The boys opened it and found that their duplex is in preforeclosure and will be sold at auction on May 4. The managing realty company claims to be unaware of the situation. What rights do we have (all 3 sets of parents are also on the lease) and how likely is it that the boys will be evicted?

What rights do we have (all 3 sets of parents are also on the lease) and how likely is it that the boys will be evicted?Hello s:

In terms of your rights, go read this. It was prepared by our resident real estate expert and attorney, Lisa: https://www.askmehelpdesk.com/real-estate-law/paying-rent-when-property-foreclosure-316199.html.

Given that the property IS a duplex, it would seem that any purchaser would be buying it for investment purposes and would be interested in renting it. The lease WILL have to be renegotiated, though. When and if the foreclosure happens, you'll hear from the new owner.

excon