How much time shouldI be given to vacate if homethe homethat I rent was foreclosed and now being sold?
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How much time shouldI be given to vacate if homethe homethat I rent was foreclosed and now being sold?
I signed a new month-to-month lease with Fannie Mae and now the home is being sold to the new owner. I have not received any notice to move out. What rights do I have?
Asked on August 29, 2011 California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The “Protecting Tenants at Foreclosure Act” requires that when a home goes into foreclosure, those tenants with a month-to-month lease, or no lease at all, have to be given at least 90 days notice to move. Additionally, in cases where state law provides more protection than the federal law, the state law applies.
A tenant should be notified by the mortgage lender as to the sale/transfer date of the property. After this time, the landlord will no longer be the legal owner. A tenant should then be informed where to send their rental payments by the new owner.
As for any security deposit paid, your current landlord is responsible for its return.
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