Should I continue paying rent to mthe HOA, if property is now bank owned?

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Should I continue paying rent to mthe HOA, if property is now bank owned?

For the last 8 months we have been renting a condo from the HOA which gained rights of usage when the owner failed to pay his association dues and was evicted. Now the property was won in court by a bank and we received notice to leave the condo in 90 days. Should we continue to pay rent to the HOA? What does that mean to our deposit with the HOA?

Asked on August 23, 2012 under Real Estate Law, Illinois

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If there is a new owner for the rental that you occupy, you are obligated under the law to continue making the same monthly rental payments you were making when the unit was owned presumably by the person that you signed the written lease with. If the HOA is the new owner, then you continue paying rent to the HOA. As to your security deposit, the prior owner that you paid it to presumably owes you its return upon the end of your lease.


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