[FrustratedBird]

It appears that my landlord may have let my apartment building go into foreclosure, though I have not received any official notice.

The tenants in the building across the street, whose building was owned by the same landlord got notice from a Real Estate agency that they had two weeks to move.

The building adjacent to mine has had the locks changed on two units, but the other tenants haven't received any kind of notice from anyone either.

1- Doesn't the law require that tenants receive written notice from the landlord that the apartment has gone into foreclosure?

2- Don't the new owners, bank or otherwise have to honor the lease that was in effect when they purchase it?

3- What happens to the deposit?

4- What should I do at this point? I really don't want to move. I am new to the area.

[FrustratedBird]

I forgot to mention that I live in Kansas City, Missouri.

[ScottGem]

The rules here are different because this is commercial property, not residential.

Yes, the new owners are required to honor the existing leases. Also there is no way it could be legal to give them only 2 weeks notice. And changes locks on an apartment where someone is living is definitely illegal.

I would suggest someone try to get all the tenants of these buildings together and consult/hire a lawyer to protect their rights.

To answer your specific questions:

1. No. Since foreclosure can be forestalled right up to the auction, a tenant doesn't have to notified.

2. Yes they do!

3. That's a problem. Its generally the new owner responsibility to get it from the landlord, but in the case of foreclosure the landlord may not have the money. A lot depends on local laws about how deposits are handled.

4. Like I said, band together and get a lawyer.

This site:

http://articles.directorym.com/Rente...s_City_MO.html

Gives you some more background specific to KC, but it focuses more on residential rentals and not commercial buildings. I still say that in a commercial building leases have to be honored.