Landlord Stopped Paying Mortgage And Stopped Foreclosure By Filing Bankruptcy, Can I Leave?
October 23rd, 2009 - ByPosted in Stopping Foreclsoure
Landlord stopped paying mortgage for like 6 months and stopped foreclosure by filing bankruptcy on the day of the auction, and told us that bout her 3-6 months before she can file file for bankruptcy again, buying more time, CAN WE Leave?
3 Responses to “Landlord Stopped Paying Mortgage And Stopped Foreclosure By Filing Bankruptcy, Can I Leave?”
October 23rd, 2009 at 4:31 pm
Her financial problems do not change your lease or rental agreement terms. As long as she still owns the property, they remain unchanged.
October 23rd, 2009 at 7:26 pm
“Expert Realtor” is only partially correct.
In some states, if the ownership of the property changes, it allows either party (tenant or new owners) to terminate the existing lease without penalty. However, this only works in some states and it only works after ownership has been legally transferred.
If your landlord still technically has legal ownership, then there is nothing you can do, your lease is still valid and you must continue paying rent per your lease agreement.
October 24th, 2009 at 12:12 am
Yes you can.
Be sure to get a copy from the city of foreclosure or the notice sent to you by the landlord’s lender.
The lease agreement is a legal contract between you and the landlord…once foreclosure takes place, the landlord loses the legal rights to the property and they refer back to the bank…this change legally terminates your lease…you don’t have to give a notice or prorate the rent once this happens.
However, you MUST obtain documentation of this before you move or you have no legal ground to stand on.
Leave a Reply