Home, Land, Property Buying and Selling - forclosure on a rental home
Doityourself.com community forum was created to provide answers to all questions related to home improvement and home repair. Doityourself community can help you find information about how-to topics on small fixes to large remodeling projects. With comprehensive how-to content and expertly moderated community forums DoItYourself.com makes it easy to tackle even the most complex home improvement projects.View Full Version : forclosure on a rental home
Phala2005
12-22-07, 10:04 PM
My children live in CA and signed a one year lease for a rental property, the landlord has let the house go into default
They had a notice taped to there door stating that the house will go to auction Jan 7, 08, and the mail man tried to deliver 2 certified letter a week ago. They have had no notice from the bank or the landlord as to when they should move. The house is being auctioned for more that homes are selling in the area, and it may not sell at the auction. When should they plan to move, should they wait until the new owner or the bank tell them they have to move? legally how much notice should they expect 30 days? Please help
They had a notice taped to there door stating that the house will go to auction Jan 7, 08, and the mail man tried to deliver 2 certified letter a week ago. They have had no notice from the bank or the landlord as to when they should move. The house is being auctioned for more that homes are selling in the area, and it may not sell at the auction. When should they plan to move, should they wait until the new owner or the bank tell them they have to move? legally how much notice should they expect 30 days? Please help
mitch17
12-23-07, 06:42 AM
It's time to talk to an attorney in that area both of the country and the law. You can start here:
http://FreeAdvice.com
http://AttorneyPages.com
http://FreeAdvice.com
http://AttorneyPages.com
the_tow_guy
12-24-07, 07:52 AM
Any chance they're in a position to bid on it themselves?:coffee:
Jeff Matthews
12-25-07, 03:20 PM
I bet the laws are somewhat similar among the states. Assuming so, a tenant occupies subject to the landlord's mortgage. A foreclosure sale has the effect of terminating the lease and the tenant's lease rights. Local laws likely prescribe a procedure that must be followed in requiring a tenant to vacate. That procedure usually entails giving of notice. The tenant is usually not liable for charges outside of the lease (like the new owner's attorney fees and court costs) unless the tenant fails to comply with lawful notice. Check your local laws - maybe Google "California tenant rights."