Apartment Foreclosurd

UPDATED: May 17, 2009

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Apartment Foreclosurd

Signed a lease in Feb of 09 – 2 months later we were notified that the complex was in foreclosure proceedings. We were not notified at the time of signing that this was a possibility. Can I break my existing lease without haveing to pay all the early termination charges?

Asked on May 17, 2009 under Real Estate Law, Arizona


B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

I'm not an Arizona lawyer, and this is one area of the law which differs from one state to the next.  Also, I don't have a copy of your lease.  You should find a local real estate lawyer and have him review your lease, and any other facts that bear on this situation.  One place to find experienced attorneys is our website, http://attorneypages.com

Most leases do not allow this as a reason to break the lease.  Foreclosure often can take several months to complete, and in the meantime, the original landlord you signed with still owns the property.  Whether your lease is still valid once the property is sold is a question for your lawyer!

However, in a situation like this, the landlord may not keep up with his or her obligations to you, such as keeping the property in good repair and so on.  The foreclosure would not limit your rights, if you could otherwise declare the lease broken by the landlord.  Again, this depends on the wording of your lease, Arizona law, and the unique facts of your case, and it's best to check with a lawyer before taking action.

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.

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