If I just found out that my landlord has defaulted on the last3 month’s mortgage payments, do I have any rights to move outbefore foreclosure?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I just found out that my landlord has defaulted on the last3 month’s mortgage payments, do I have any rights to move outbefore foreclosure?
Asked on December 20, 2011 under Real Estate Law, Georgia
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You are still required to stay and pay rent until your landlord is no longer the legal owner. This will occur when title passes to a buyer at a foreclosure sale (if there is one; the landlord my cure the default prior). The fact o the matter is that your landlord's financial problems have no impact on your legal obligation to fulfill the terms of your lease. If you simply move out and fail to pay your rent you can be evicted, taken to small claims for the money you owe, and have your credit report affected.
You should be aware, however, that pursuant to federal law a lender who takes possession of a property or a new owner who buys the building has to let a tenant stay for the remainder of their old lease. The rules are a bit different if someone is buying the property to live in; in that case, they can terminate a lease with 90 days notice.
Note: Your landlord is still responsible for the return of your security deposit; see if they'll let you apply it to a month's rent.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.