ARE NONE OWNER PROTECTED BY "THE PROTECTING TENTANTS AT FORECLOSURE ACT OF 2009"?
Posted 29 November 2012 - 01:57 PM
Posted 29 November 2012 - 02:48 PM
I AM BROWARD COUNTY FLORIDA TENTANT, NOT THE FORMER OWNER. MY APARTMENT, THAT AM RENTING, WAS RECENTLY SOLD TO FANNIE MAE. I WAS GIVEN TWO OPTION 1.CASH OUT OR 2. MY RENT WILL INCREASE TO MARKET RATE.i WANT TO CONTINUE RENTING AT MY CURRENT RATE. DOES THE "PROTECTING TENTANTS AT FORECLOSURE ACT OF 2009" PROTECT MY RIGHT TO KEEP MY EXISTING RENT CONTRACT?
Well, possibly for 90 days.
The act provides that you be given 90 days notice to vacate.
The act also provides that the successor in interest to the property shall assume such interest subject to
(2) the rights of any bona fide tenant, as of the date of such notice of foreclosure--
(A) under any bona fide lease entered into before the notice of foreclosure
to occupy the premises until the end of the remaining term of the lease,
The terms of your lease continue as is until either the 90 days are up or the lease expires, whichever comes first.
Here's a link to the statute:
Warning: Legal issues are complicated. Explanations and comments here are simplified and might not fully explain the ramifications of your particular issue. I am not a lawyer. I do not give legal advice. I make comments based on my knowledge and experience. I guarantee nothing. If you act on my comments without the advice of an attorney, you do so at your own risk.
Posted 29 November 2012 - 02:49 PM
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