Renter In A Forclosed House
Hi,
If someone is renting a house, and the owner of the house is going into foreclosure, how will the Renter
know if the owner of the house don't tell him.
Assuming the Renter does not read the local
paper to see the Notice in the paper.
Reason for this question is: a house is being
forclosed at Sheriff Sale in January. I drove by
the house yesterday, and the renters have it decorated so beautiful for Christmas. So.... does the owner, have to notify the Renter by Law about the foreclosure, or will the owner just suprise the Renter?
Thanks in advance!!
I don't know the legal stance of whether the landlord has to tell the renter or not, and if there would be any penalty for not doing such. You'll have to check your state laws for that.
However, the renter will know about the foreclosure because the sherriff's office will post a legal notice on the front door of the residence. After the property is sold at auction, and depending on your state laws, the tenant becomes the responsibility of the the owner (remember, you buy these things "as is" and that includes tenants). As the new owner, you can keep the tenants or evict them, again according to your state's laws on the matter.
Roger