Renters being forced to homelessness

We rent in Maine with a five year lease. Just notified the owner is filing bankruptcy and letting our home go to foreclosure. We have no money to move and there are no homes in our town to rent. Do we have any rights? We ahvent the money to move to another town and start over. Is there any way we can keep the house we are in without applying for a mortgage?

Asked on June 12, 2009 under Real Estate Law, Maine

Answers:

J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

no a renter is only entitled to the property as much as the landlord is entitled. If the landlord can no longer afford the property and it is foreclosing the tenants rights will cease with those of the landlord

If your property is purchased by someone who wants to rent it you can look to rent from the new owner but as far as the rights from your lease although they may cover longer than you will actually be living there they are contingent on the landlord possession of the property, without that your lease will terminate.


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