landlord is in foreclosure and I stiill have 6months left on the lease

[sundance3014]

We are 6 months into a lease on a home and the property is in foreclosure. No one will tell us if the process will be completed prior to the lease ending. We are a family and do not want to be surprised and left homeless. Is the lease still valid and can I move out to protect my family thus breaking the lease early. Landlord mentioned a short sale and stated he may give 30 day notice if short sale is approved. What are my options and rights? Thank you for you time and consideration. Sincerely, Mark

 

[Gail_in_Georgia]

The lease is still valid as the home hasn't actually been sold. Breaking your lease could open the door to you being sued by the landlord.

Attached is the relatively new law that protects tenants in the case of foreclosures of their rental homes:

http://www.nlihc.org/doc/701-704-Public-Law-111-22.pdf

Gail

 

[jharris352]

You don't have to worry, he will give thirty day notice to get you out. Whether he is foreclosed upon or sells the property he has to give you some amount of notice to vacate, and then if you don't he or someone has to go through the process of getting you out. They can't lock you out, or change the locks, or put your stuff out without a court order and that takes some time. The way things are, you may actually make the 6 months without a problem.