If I purchased an occupied foreclosure, what are my rights?

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If I purchased an occupied foreclosure, what are my rights?

I bought the house on the courthouse steps. I try to conclude the sale with those occupying the home for the original terms. They are not interested and they are not leaving. They have no rental agreement.

Asked on February 25, 2016 under Real Estate Law, Tennessee

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Pursuant to federal law, when a rental premises goes into foreclosure, tenants who have a written lease can continue their occupancy until the end of the lease period, or 90 days, whichever is longer. The exception being if the new owner intends to move in and occupy the rental premises as their primary residence. In that case, a 90 day notice to move would apply. Tenants with a month-to-month lease, or no lease at all, have to be given at least 90 days notice to move. Note: In cases where state law provides greater protection than applies.


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