My wife and i signed a 10 year lease and now the owner said she's selling and does'nt care about the lease!!!
We have 7 years left on the lease and have fixed up the house and maintained the property despite some major electrical problems etc. Now that the landlord said she could care less about the lease we are holding the rent until the repairs are made. Can we do this? Can she just throw us out despite the lease? We fixed a hole in the floor and kept 140.00 for labor and material and she says due to that she's going into foreclosure. I think she's just trying to sell and wants an excuse. I have 2 teenage daughters at home and will do all I can to stay here til the last minute and wont allow anyone to look at the property without a 3 day notice stating she's going to come on the property. Am I just screwed? I have a non-profit buisness and this is the home base address as well so she's going to ruin a lot if she just avoids the contract for 10 years that she agreed to. Any advice would truely be appriciated.
My understanding is when a property is sold at foreclosure all rental and lease agreements
are wiped out.
California (or is it US?) states that tenants must be given 90 days to move;
if they fail to move a unlawful detainer (eviction) lawsuit would be filed.
Where is the house located?
I would highly suggest a Real Estate Attorney, you do have recourse. Best of luck!
Check your lease to see what the terms are. It could be that the lease will be transferred to the purchasing party and there will be nothing to worry about. If the property falls into receivership then the lease may be renogotiated depending on the receiver's decision and the asset disposal process. It is best not to withhold rent, if anything discuss the necessary repairs with the current landlord and if she is unwilling to make repairs you may wish to document the conditions (pictures work well), make the repairs and account for the expenses incurred. You can reduce your rent payment accordingly. I hope this helps, good luck and hang in there.
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