If we recieved a letter in the mail stating that the property we rent is being foreclosed upon, do we still pay our landlord rent?
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If we recieved a letter in the mail stating that the property we rent is being foreclosed upon, do we still pay our landlord rent?
We received a notice in the mail that the bank is foreclosing on the property we are renting. In the notice it states that the bank will own the property in 60-90 days and after that the property will be turned over to HUD and we have 20 days past that point to leave. Do we still need to pay rent to our current landlord even though he is breaking his portion of the lease by failing to continue to provide a place for us to live through the end of our lease?
Asked on July 6, 2012 under Real Estate Law, Georgia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, you need to pay your current landlord up until the point at which he is no longer your landlord (i.e. foreclosure has occured and he has lost title to the home). If you do not, you could be potentially evicted earlier and/or sued for the amount you owe (or alternatively, unpaid rent could be taken out of your security deposit). Once he loses possession of the home, then you do not need to pay him.
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