Foreclosure in 95842>Question Details

rami_88, Renter in Weston, FL

The house I rent is going on auction. I'm telling my landlord we'll pay rent until auction day & hold on to the remaining while final court decision.

Asked by rami_88, Weston, FL Sun Nov 10, 2013

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6
Generally, there is no "court decision" involved with foreclosures in California.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes Thank Flag Link Tue Nov 12, 2013
Your profile does not indicate if you are a tenant in Florida or California. That's important to know because California and Florida have totally different foreclosure processes as well as tenancy laws, However, both protect a tenant under the same federal laws in the case of a foreclosure's change in ownership.

Florida executes a foreclosure through a sheriff's sale and it's quick, if it happens correctly. But most Florida foreclosures are being held up through their judicial foreclosure process more often than any other state. Those here responding are familiar with the California foreclosure process and know that CA foreclosures postpone all the time so there's also no guarantee that it will happen as dictated through the trustee foreclosure process.

Because you mention a final court decision, I'm going to guess that your question is related to Florida. You do not mention if you are in a lease, or month to month rental agreement. Either way, the fact that the home is in foreclosure does not protect you from respecting your rental contract agreement. Keep paying, if you are living in the home and enjoying its benefits. If and when the foreclosure occurs, the new 'owner' will need to respect that you have an active contract. However, I might suggest you see if your current owner might consider reducing your monthly payment because of the anxiety of the situation? Always worth asking.
0 votes Thank Flag Link Mon Nov 11, 2013
Until the property ownership actually changes hands and you are notified, it is my understanding that your rental obligation is to the individual that you rented from initially.
0 votes Thank Flag Link Sun Nov 10, 2013
Proper communication is essential. Please make sure to keep an open communication with the landlord, Real Estate Agent, Property Manager, or any bank representative if the property forecloses.
0 votes Thank Flag Link Sun Nov 10, 2013
You may want to speak with an attorney before breaking your lease (not paying rent). Most leases include a clause that transfers the lease to whomever buys the property at any point in the future. Therefore, you always owe SOMEONE a rent check. If the property transfers, whatever you paid to the current owner would be credited to the new owner. The general rule is that at no point would you be allowed to benefit from the problems of the owner.
0 votes Thank Flag Link Sun Nov 10, 2013
Do you live in Florida? Rental agreements are between the landlord and the tenant. There is no guarantee the home will go to foreclosure at the auction, but I can see your reluctance.
0 votes Thank Flag Link Sun Nov 10, 2013
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