If I’m a tenant who has rented the same apartment for 10 years now, what are my rights if the property is in foreclosure?
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If I’m a tenant who has rented the same apartment for 10 years now, what are my rights if the property is in foreclosure?
Asked on July 29, 2015 under Real Estate Law, Pennsylvania
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
In a situation such as this, a tenant is has protection under federal/state law. When a rental unit goes into foreclosure, tenants with a written lease can continue to occupy the home until the end of the lease term, or 90 days, whichever is longer (the exception is if the new owner intends to move in and occupy the home as their primary residence. In that case, a 90 day notice to move applies). If there is no written lease, then the tenant is given 90 days.
That having been said, even though a foreclosure action has already been filed, as long as the landlord remains the record owner, the tenant must continue to pay rent to them until title is passed to the new owner. The tenant will then be informed where to send their rent by the new owner/landlord.
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