I am a tenant of a home just foreclosed on. How long do I have after the sale to move?
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I am a tenant of a home just foreclosed on. How long do I have after the sale to move?
The townhouse I am staying in here in Tallahassee, FL was foreclosed on. The sale
happened 10 days ago. My friends have told me they will post a notice on the door
and I will be given 30 days. Another friend said I will be given only 24 hours
after the notice is posted by the sheriff. I am already looking but finding a
place is hard when your a single parent work full time and have a small child.
Asked on August 2, 2017 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Federal law gives some rights and protection to a tenant in the event that their rental unit is foreclosed on. When a home goes into foreclosure, a tenant who has a written lease can continue to occupy the premises until the end of the lease period, or 90 days, whichever is longer. The exception being if the new owner intends to move in and occupy the home as their primary residence. In that case, a 90 day notice to move applies. A tenant with a month-to-month lease has to be given at least 90 days notice to move. You should be aware that sometimes an incentive can be negotiated between a new owner and a tenant so that the tenant agrees to move out early. It is known as “Cash for Keys”, wherein the owner will pay a tenant to leave the property early in exchange for a cash payment. The amount and timing of the payment can be worked out on a case-by-case basis.
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