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| Posted by: Ros from Minnesota on April 30, 2009, 10:10 am |
Comment:
I received a noitice from the sheriff stating that my landlord propperties is going into forclosure. Do I continue to pay him? Can he file eviction paper work on if I don't pay him due to the forclosure? |
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Replies to this comment:
Posted By John from California on May 14, 2009, 6:12 pm
It depends on what they mean by 'going into' foreclosure. Is it still in the process or has the property been sold to another party or the lender? You are obligated to pay rent up to the point at which the landlord no longer owns the property. For most foreclosures, this is the date of the auction sale or short sale. Once your LL no longer owns the property, your lease is void and the LL is not entitled to any further rent payments. However, you should expect that someone is going to demand rent from you eventually, even if they don't ask for it right away. After the date foreclosure, save your rent so that you will have it for the next entity that comes along to demand it. You can't expect to live there for free.
Posted By Jenny from Minnesota on April 30, 2009, 4:25 pm
we were told by our lawyer that we were still required to honor our lease even though the landlord was in foreclosure, HOWEVER she said that the only recourse for the landlord if we broke our lease was to sue us and if he couldnt pay his mortgage it wasnt likely that he would be able to sue us. and the best part was that even if he did try to sue us the courts may still side with us giving the circumstances. we moved out, never heard from the landlord.
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