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birddog88

"Landlord" in default

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Hello. I live in Montana and I have a periodic tenancy with a property management company. Recently, it was brought to my attention that the actual owner of my residence is in default on his mortgage note. What happens to me as a tenant if the lender pursues foreclosure?

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"What happens to me as a tenant if the lender pursues foreclosure?"

We can't know what *will* happen, and it's worth noting that you don't and have never had any real security in terms of a place to live beyond any given month's tenancy. Current federal law that has yet to expire as far as I know would require the lender to give you a 90-day notice of termination if it forecloses, which is far longer than the landlord is obligated to give you now even if there were no issues.

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On 1/3/2012 at 6:24 AM, Fallen said:

"What happens to me as a tenant if the lender pursues foreclosure?"

We can't know what *will* happen, and it's worth noting that you don't and have never had any real security in terms of a place to live beyond any given month's tenancy. Current federal law that has yet to expire as far as I know would require the lender to give you a 90-day notice of termination if it forecloses, which is far longer than the landlord is obligated to give you now even if there were no issues.

 

I recently moved into a 4 suit old building apartment with NO LEASE only verbal acceptance as tenant but the lady who manages the building for the “Landlord” had me make my “rent” deposit to the local county treasurer. I don’t feel very secure about this method of “rent” payments. Can I be evicted if owner defaults on property taxes? How much time would I be notified of default and how much time will I be allowed to move?

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On 8/17/2019 at 2:59 PM, Cmaria said:

I recently moved into a 4 suit old building apartment

 

Is there some good reason why you tagged this onto a 7 1/2 year old thread?  If you have a question, start a new thread (and be sure to identify your state).

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