What are our rights if our rental has been foreclosed on?

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What are our rights if our rental has been foreclosed on?

We are renting a beautiful home and have been here a year. The rent and upkeep are pid on time each month and we have a yard service to care for the outside. We are in a gated community and love it here. We received notice that we need to move out and we don’t have much time because the bank got the home back from a sheriff’s sale and a realtor is selling the house. How can we get cash for keys to help us move or is there something else we can do just to stay longer so we can get it together. We don’t want to be grown in the street we have kids, can we file a court hearing for more time we are lost at this point. The landlord hasn’t returned our calls.

Asked on August 25, 2015 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Unfortunately, there really isn't anything you can do you do not have any legal right to remain in the home, because your right to be there is derivative of the former owner's--your landlord's right--to possesion you cannot have any greater right to possess or occupy the home than he or hse had. But when the home was foreclosed upon, he or she lost all his or her rights to the home, which means that he or she cannot give you any right to remain there, and the new owner, who has not given you you any right to possession, can require you to leave.
You can, however, try to negotiate some extra time, since if you don't leave voluntarily, to remove you, they will have to take legal action, which has its costs. A voluntary move out, especially if you offer to pay them somthing for the extra time if necessary can be attractive, so you may be able to get them to allow you extra time. If you do, be sure to get the agreement in writing.


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