I have been renting an apartment in a building that has now been foreclosed on and is being sold at public auction. What are my rights? I was told the current landlords (the ones who got forclosed on) are the ones I am supposed to keep paying rent to for the next 6 months after the sale. That doesn't make sense to me. Please help. I don't want to be paying somebody that doesn't deserve the money. Thank you!:confused: Oh by the way.. I live in Mille Lacs County Minnesota if that helps!

Once the building is foreclosed on your lease is terminated and you will have to move. You do need to continue to pay rent to your landlord until the property changes hands.

When does your lease expire?

Correction: Thanks to LisaB, I've been informed that if you are living in an apartment building (generally 4 or more units), This is probably a commercial, not residential mortgage. In such a case, the mortgage probably included a clause assigning the leases to the lender in case of default. So its possible you will get a notice soon to start paying your rents to the lender. Since the business of the building is rentals, then it would make little sense to get rid of the tenants when the property changes hands.

So, what will probably happen when the property changes hands is that you will get new leases from the new owner. They will probably include a rent increase. You will then have some time (at least 30 days, maybe more) to sign the new lease or move.

Since you are on a month to month, you can start looking for new digs now and give 30 days notice when you find something.

Our lease was up in August.. we are month to month now.. the current landlord has been harassing us for decembers rent.. the building goes to auction tomorrow! How long ago do you predict that they actually got forclosed on? Isn't the auction the last step? So doesn't that mean they haven't been in possession of the building for a while? I'm just so confused right now and am sick of paying people who are ripping me off! Thanks for your help.

Hello nichelle:

You're not being ripped off. You get to have a roof over your head in exchange for your money. Ripped off is something else.

Relax!! You're getting your panties all in a wad for NOTHING. YOU don't need to DO a thing. Your new landlords will take care of letting you know when and to whom your rent check should be addressed. Until then, pay your rent to the guy with whom you have an agreement. That's the current landlord.

excon