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The home that I am renting is being foreclosed on. I only know this because the landlord told us it was going to happen. Is there a law that in the winter months tenants can not be kicked out of their home? Are we as renters obligated to continue to pay our rent?
It would depend if you have a lease, are a tenant at will, or month to month. If there is a lease you may have some legal rights if it is with the lease timeframe, but if they are going through foreclosure good luck. I am not aware of any law that says you can't be asked to leave in the winter. After all you are getting some level of notice here. I would start looking and get packing. As far as paying rent, yes you have to pay rent after all you are living there right?Quote:
Originally Posted by asme
Sorry, but your rights are VERY limited. If the landlord was to sell the property, then the new owner would be bound by the terms of your lease. However, in a foreclosure all leases are cancelled as soon as the foreclosure is completed.
The fact that the property is facing foreclosure does not relieve you of your obligation to pay rent, you need to continue to do that.
Howeve, I would view this as an opportunity. If the landlord is going to lose the property anyway, see if you can take over his payments. He would transfer the house to you. Maybe you could work out something where you can pay him a little extra or a lump sum payment after a period. But if you can make some sort of deal to have him sell you the house, you can probably get it for a lot less then its worth. Remember he's in little position to bargain. Even if he comes out with no money out of it, at least he won't have a foreclosure on his record.
If you can't make some arrangement, then depending on your lease obligation you may need to start looking for a new place to live.
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