the bank now owns the rental property i live in and the bank rep wants cash 4 keys and unit vacted by 06-26-09.
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the bank now owns the rental property i live in and the bank rep wants cash 4 keys and unit vacted by 06-26-09.
bank rep states plan A is sale w/ tennt occupancy,as i have an investor w/cash.PlanB is tenant(ME)vacating while sale takes place. a suitable unit for my home has not yet been found.my work time lost on acontract basis@75-90$per hr presents an impossible move in such short notice&huge financial loss.what real estate laws protect my rights here in CA?fannymay&fannymac-do they help?a new law known as “BOSCA”was suggested-how can I find more info on that?I have not been served legally to date.myinvestor’s bid was turned down @the 4closure sale5-23-09-should’nt i have rites 2more time?
Asked on June 17, 2009 under Real Estate Law, California
Answers:
Guy L. Kirkpatrick / Guy L. Kirkpatrick, Law Offices of
Answered 14 years ago | Contributor
any bank or other entity that takes over a property typically takes the property with the tenants and subject to what the interest in the tenant is in the property (long term lease, month to month tenancy, etc.). the bank can't just throw you out but if you've been on a month to month tenancy, which is very common, the bank can provide a 30 day notice to vacate just like you could provide the bank with a 30 day notice that you are vacating and the tenancy is then over.
Guy L. Kirkpatrick / Guy L. Kirkpatrick & Associates
Answered 14 years ago | Contributor
any bank or other entity that takes over a property typically takes the property with the tenants and subject to what the interest in the tenant is in the property (long term lease, month to month tenancy, etc.). the bank can't just throw you out but if you've been on a month to month tenancy, which is very common, the bank can provide a 30 day notice to vacate just like you could provide the bank with a 30 day notice that you are vacating and the tenancy is then over.
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