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    deefranco's Avatar
    deefranco Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 30, 2007, 09:39 PM
    Landlord selling house 4 months into 2 year lease
    Do I have any legal rights? How long so I have before I have to physically move out ot the house? Do I still need to pay rent until I move out? He has partial last month and a cleaning deposit and he is about to turn the house over to the bank in foreclosure! I live in Arizona
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Jul 31, 2007, 05:50 AM
    Hello dee:

    Relax... If he sells, the new owner will honor your lease. If it's forclosed upon, however, you'll have to move. The bank will give you 30 days if it takes over. If you move, he should honor his agreement with you. If he doesn't, sue him.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jul 31, 2007, 06:29 AM
    Have you considered buying the house? Maybe the bank will allow him a short sale and you can get the house cheap.

    But if its foreclosed on, you will have to move, a foreclosure terminates any lease. The lender should give you time to vacate.
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
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    #4

    Jul 31, 2007, 09:03 AM
    Normally, in a case such as yours, the lease would transfer to the new owner when the house is sold and the new owner would be bound by the terms of your lease. Did you discuss the possibility of your landlord voluntarily terminating the lease? (S)he'd have nothing to lose by doing so.
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