If my landlord has diedand the house is going back to the bank, how long will the bank give me to be out?

Asked on October 20, 2011 under Real Estate Law, West Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

There is no general answer to this: the bank will give you as long as the bank gives you. That said, they first can't do anything until the home is actually foreclosed on--i.e. the fact that it will go back them means nothing until it actually does. That will take some time. Second, there is a federal law--I believe it's the "saving our homes act," which Obama signed into law in 2008--which means in that in a foreclosure situation, tenants generally (in most cases) get at least 90 days. Third, the bank may be busy with other situations and not in a hurry to resolve yours; and fourth, you may be able to negotiate with the bank to keep renting from them, or possibly to buy the home at a favorable price. So basically, once you believe the foreclosure has actually occured, you may wish to reach out to the bank, see what their timeline and intentions are, and also see what you can work out. Good luck.


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