Ask Experts Questions for FREE Help !
Ask
    Niecykaye's Avatar
    Niecykaye Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 25, 2008, 07:44 AM
    Tenant rights during foreclosure!
    What are a tenants rights during a foreclosure? Are we not entitled to get are deposits back? Even if we have to leave before the lease is up?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Mar 25, 2008, 08:05 AM
    Yes you are entitled to your deposits back. The owner should transfer any deposit monies held for the property to the new owner. However, if the owner is losing the property to foreclosure, and he wasn't required to place your security deposit in an escrow account, you may have to sue the new owner to get back your deposit.

    In a foreclosure, as sonn as the property changes hands your lease is terminated and you have to vacate.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Tenant vs foreclosure [ 1 Answers ]

I am a tenant. I signed a lease and paid my rent on time. In late October, I reciceved a notice of foreclosure. The property went up for auction in November, and was sold. When I contacted my landlord, he told me not to worryabout it and that he knew. After the auction in November, the person...

Foreclosure in NYC and what should a tenant do? [ 4 Answers ]

My daughter is renting an apartment in a 3 storied private residence. She received a letter from an Indenture Trustee (owner and holder of the mortgage) asking for her to remit the rent which will not be repaid in case, the mortgage litigation is settled by the landlord. My daughter is depositing...

Renting a home already under Foreclosure to a Tenant [ 1 Answers ]

I live in Iowa and recently rented a home that was in the process of Foreclosure without knowing it. I moved in on 12/18/06, after the Foreclosure was filed and the Foreclosure was finally awarded to the bank on 4/06/07. I had to purchase all of the appliances to fill this home (fridge, oven,...

Foreclosure-tenant rights [ 1 Answers ]

I recently moved to Florida and signed a lease for one year beginning on February 1, 2007. I received mail addressed to Jane Doe, tenant, notifiying me that the home I rent has been foreclosed upon and will be sold in less than 3 weeks at an auction. Do I have any rights or claims as to the time...

Tenant rights during foreclosure (virginia) [ 11 Answers ]

I'm renting a house in virginia that I just found out is being foreclosed upon. The landlord won't answer his phone or emails inquiring about the foreclosure. There is an auction for the house on nov. 8. and the winner has to close on the house in 15 days. I want to know what my rights are? ...

View more questions Search