Legal Question in Civil Litigation in California
Does tenant rights in a residential home situation survive a short sale or foreclosure action.
What happens to the tenants duration in the property, deposit, cash for keys
1 Answer from Attorneys
It depends upon whether the tenancy is month-to-month or a lease. If a lease, the lease continues until its ordinary expiration and the new owner simply becomes your new landlord. If a month-to-month, and the new owner wants you to vacate, it must give either a 30-day or 60-day notice to quit. If you haven't vacated by the date stated in the notice to quit, the new owner will file an eviction lawsuit against you. You will probably have to sue your former landlord to recover your deposit. The new owner may also offer you "cash for keys" to induce you to leave voluntarily, which you can accept if you are sure the trustee's sale has been completed. Generally the new owner can not give you the 30 or 60-day notice until the trustee's sale has been perfected by the recording of the trustee's deed.
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I have waited a week for an answer. When will my question be answered. Asked 10/14/09, 11:07 pm in United States California General Civil Litigation