Thursday, November 25, 2010

Do I need to pay my rent if my land lord foreclosed on the home?

I signed my lease in June and it was for a year, i'm now being told I have to be out in a months time because the bank did a short sale, I was never made aware of the foreclosure can I just skip out on this months rent? Live in California by the way


If the bank foreclosed on the property then your lease is no longer good in most states.

On the other hand you said short sale- and that is completely different. If the property was sold in a short sale then your lease may very well be still valid-whatever the lease said.

If you want to stay you will need to get a lawyers help. If someone is attempting to get you to move out they will likely work with you on rent- call them up.

This could possibly be in the lease. Check to see if it says anything about foreclosures.

I wouldn't think you would need to pay any more rent. Once you move out, that's it. You should be getting 60 days to move, not 30.

Legally you must pay rent for anytime that you live in the home. Failure to do so could land you in court with either the old owner or new owner.

Actually, you should have 3 months to vacate. There was a law passed last May that protects people who are in homes that foreclose. Might be different with a short sale.

I would have expected them to do a cash for keys thing. Technically, you are supposed to pay rent for the time you live there, but, I doubt you are going to ever see your deposit back and you will need $ to move to a new place.

you have to pay for the time you are living there

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