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JManning · Mar 2, 2009, 02:05 PM

If my landlord rented me the home a month before it went into foreclosure and she lives in North Carolina and her sister signed the rental agreement, is my lease voided?

excon · Mar 2, 2009, 02:53 PM

Hello J:

Nope. You're still going to have to pay rent. Often times foreclosure takes months and it's possible your landlord will rescue his house.

If it IS foreclosed upon, your lease ends THAT day. It's always possible that the bank would want a paying guest.

excon

JManning · Mar 3, 2009, 10:22 AM

I have asked a lawyer and he told me to put it in an escrow... and I can hold it until wither the foreclosure is complete and use it to move or if she takes it out of foreclosure I can pay her

excon · Mar 3, 2009, 10:42 AM

Originally Posted by JManning

I have asked a lawyer and he told me to put it in an escrow.... and I can hold it until wither the foreclosure is complete and use it to move ....

Hello again, J:

Then what are you asking me for? Besides, if you want to believe a lawyer who tells you that you can live for FREE, knock yourself out.

I stand by my advice!

excon

MsMewiththat · Mar 3, 2009, 10:50 AM

All though I agree that it's important to always seek legal advice... so op did the right thing. I just want to add Escrow is by no means living for free. However, I want to add if your landlord doesn't have the rent money coming in it will make it that much harder to pay the bills... forcing them into an even tougher position. I would seek a second opinion. Escrow is typically used for repair or items that they can fix.. Second opinion or proof in the statute in the city/state that you reside would be my suggestion to you... Just a thought.

this8384 · Mar 3, 2009, 01:17 PM

I wouldn't recommend withholding rent. Like excon pointed out, the property still legally belongs to your landlord; they still might salvage their end of the deal and the property may not be foreclosed on in the long run.

I'd keep paying rent and get receipts.

If you're looking for a loophole because the actual landlord didn't sign the lease, that actually works in their favor rather than yours. It could be argued in court as, "If they didn't agree to rent you an apartment, then what are you doing there?"

MsMewiththat · Mar 3, 2009, 01:26 PM

I didn't think of the sister signing as a loop hole, she could very well be an acting agent. It would really depend on the wording of that document and the parties involved.

this8384 · Mar 3, 2009, 01:32 PM

Originally Posted by MsMewiththat

I didn't think of the sister signing as a loop hole, she could very well be an acting agent. It would really depend on the wording of that document and the parties involved.

Agreed; although some landlords will look for any excuse anywhere to do anything they want :)