how long can i stay in home that i rent
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how long can i stay in home that i rent
the house that i rent is up for auction in Jan 7th 2019. how long can i stay until i have to get out?
Asked on December 10, 2018 under Real Estate Law, Illinois
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Federal law gives some rights to a tenant in the event that their rental unit is foreclosed on. When a home goes into foreclosure, tenants who have a written lease can continue to occupy the home for the longer of the end of the lease period or 90 days. The only exception is if the new owner intends to move in and occupy the home as their primary residence. In that case, a 90 day notice applies. Tenants with a month-to-month lease, or no lease at all, have to be given at least 90 days notice to move. You should be aware however, even if a foreclosure action has already been filed, as long as the landlord remains the owner of record that (is still on the title to the property), you must continue paying rent to them. Once title passes, then rent is payable to the new owner only.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Federal law gives some rights to a tenant in the event that their rental unit is foreclosed on. When a home goes into foreclosure, tenants who have a written lease can continue to occupy the home for the longer of the end of the lease period or 90 days. The only exception is if the new owner intends to move in and occupy the home as their primary residence. In that case, a 90 day notice applies. Tenants with a month-to-month lease, or no lease at all, have to be given at least 90 days notice to move. You should be aware however, even if a foreclosure action has already been filed, as long as the landlord remains the owner of record that (is still on the title to the property), you must continue paying rent to them. Once title passes, then rent is payable to the new owner only.
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