Foreclosures And Existing Tennants
What are my options with existing rental tenants when buying a foreclosure at auction in the District of Columbia?
Do I have to honor the existing rental agreement? or How many days must I give them to vacate? What is the proper/fair procedure in removing them from my new property?
Thank You in Advance,
BH
Typically the tenants will be named as parties (either by name or as unknown tenants in possession) in the foreclosure complaint. The foreclosure will serve to wipe out their leasehold interest in the property. Generally the decree will grant the purchaser at the foreclosure sale the right to have the sheriff issue of writ of possession to the property. This means that you can walk yourself over to the local police department with your certificate of title (issued by the clerk) and the final judgment of foreclosure, pay the fee for service (typically like $20-30) and have the sheiff or other law enforcement official "escort" the tenants out of the property. If they don't go nicely, they can be forcibly removed.