Can I terminate my lease if trustee or receiver takes possession?
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Can I terminate my lease if trustee or receiver takes possession?
In my lease agreement under “Default” it states that I may terminate the lease if a trustee or receiver takes possession of tenants assets or interest in the lease located at the premises. Can I legally terminate the lease?
Asked on February 9, 2012 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your written lease contains an express provision within it allowing you as the tenant to terminate your lease if the property essentially is foreclosed upon (this seems to be what you are writing), then you can contractually end your lease without any recourse to the former landlord or current landlord.
Under federal 2010 law, tenants do have rights to remain in the rental post foreclosure if rent is current. The length of time to remain depends upon if the lease has a term left on it or is month-to-month.
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