What are my rights if my friend has a home that has been foreclosed on and she offered me a deal I can stay in it and pay her low rent?

If I were to take her up on her offer could I be possibly threatened with being thrown out of the home? And is it true that if this were to happen it would take up to 3 months where I could live on the property rent free and possibly be paid a settlement amount?

Asked on December 6, 2011 under Real Estate Law, California


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If your friend's home is subject to a foreclosure proceeding and if you enter into a lease for it as a tenant, you as a tenant would be protected from being evicted for the term of the lease and if it is a month-to-month lease, you have at least 90 days to remain in the rental.

There is the possibility that the lender may deem that the lease between you and your friend done in bad faith since you two are friends and the property is in foreclosure. Most likely you can live in the property rent free and perhaps when the property is foreclosed upon, the new owner may pay you cash for the keys to the premises.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.