What are our tenant rightsif ourlandlord foreclosure is now in bankruptcy?
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What are our tenant rightsif ourlandlord foreclosure is now in bankruptcy?
Landlord stopped foreclosure with bankruptcy. House is now on the market for sale. We have not been notified of anything except the foreclosure sale date (which did not happen). We have applied all deposits to rent and the bank says not to pay the landlord anything now; it will contact us (but still nothing).
Asked on December 15, 2011 under Real Estate Law, Oregon
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Technically, since the landlord has filed for bankrupcty protection and he or she is still on title to the property, you owe him or her the monthly rent absent any court order served upon you to the contrary.
I suggest that you contact the bankruptcy trustee overseeing your landlord's bankruptcy as to whom you are to pay the monthly rent to. Once you receive word from the trustee, confirm your understanding in writing as to payment, keeping a copy of the letter for future use.
In the event of a foreclosure, you are entitled to remain in the rental so long as you are current on the rent. If the lease is a month-to-month lease, the new owner has to give you 90 days notice to move out. If the lease is a term lease, you are entitled to stay for the full term.
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