What to do if I just signed a written lease agreement with a private homeowner and they owner failed to tell me the house is going into foreclousre?
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What to do if I just signed a written lease agreement with a private homeowner and they owner failed to tell me the house is going into foreclousre?
Isn’t this a breach of contract? I haven’t been in the home 3 weeks yet.
Asked on September 19, 2012 under Real Estate Law, Alabama
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Technically the landlord should have told you before you signed the lease for the unit you have that it was likely that the property would be foreclosed upon. However, under 2010 federal law, even if the rental is foreclosed upon, the new owner is required to let you remain in the unit for the duration of your lease so long as you are not in breach of contract.
If you are on a month-to-month lease the new owner per a foreclosure is required to give you at least 90 days written notice to vacate. I suggest that you may want to consult further with a landlord tenant attorney about your matter.
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