My apartment is forclusure but I have a tenant and his contract is due in six months what do I do

Have you told them yet about the situation?

In terms of what?

Ok, if I understand

1. you own an apartment building?
2. you are behind in payments and facing to have YOUR apartment building foreclosed.

The lease will be void once a foreclosure happens but they will be allowed time to move once it is foreclosed

Yes

Quote:

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Originally Posted by rod0922

yes

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,its forclusure

Quote:

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Originally Posted by Fr_Chuck

Ok, if I understand

1. you own an apartment building ??
2. you are behind in payments and facing to have YOUR apartment building foreclosed.

The lease will be void once a foreclosure happens but they will be allowed time to move once it is foreclosed

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What are the steps from the new owner to get everybody out of the apartment?

New owner

1. if they buy it from you, before it is foreclosed, they are required to honor the leases in place

2. if it is foreclosed ( normally the bank ends up with it for a while) and they normally just let the renters rent at current rent.

3. if someone does buy it from the foreclosure, all current leases are voided, I think the federal law requires a 90 day notice on foreclosures ( or is that just for houses? ) but the new owner merely gives written notice that they are required to move within a number of days