Can I break my lease and get my rent and security deposit money back if I rent a house and on the day I go to move in I see a foreclosure notice on the door?
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Can I break my lease and get my rent and security deposit money back if I rent a house and on the day I go to move in I see a foreclosure notice on the door?
Also, the house is being auctioned off today, which is two weeks after I signed my lease. So the owners new the house was being foreclosed on and still rented to me.
Asked on July 27, 2012 under Real Estate Law, Ohio
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Unfortunately for you, the mere posting of a notice of foreclosure on the rental that you have does not allow you to terminate the lease without recourse.
Among the reasons why not is that the landlord may cure the default, but most importantly, under 2010 federal law, if a tenant is current on a lease whose unit is foreclosed upon, the tenant is allowed to finish the terms of a long period lease (for example one year) and if the lease is a month-to-month lease, the new landlord must give the tenant at least ninety (90) days notice that he or she must vacate.
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