Legal Question in Landlord & Tenant Law in California
I am in default and going into forclosure
I have a lease with a tenant lasting til June 08 but will loose the property prior. What do I do? Can I legally give 30 days notice? Do I have to explain I am loosing the property to the bank?
3 Answers from Attorneys
Re: I am in default and going into forclosure
Here is a web page with specific discussion of your situation.http://ceb.com/newsletter/4.asp
In a nutshell, the bank will be responsible for the return of deposit.
You cannot give 30 days notice without a reason, however, the bank can, once it has title in its name.
What difference in anyone's life is it whether you tell the tenant about foreclosure, or not? You don't have to explain, but it would be the decent thing to do, since the bank can evict the tenant with 30 days notice.
Re: I am in default and going into forclosure
Your question is confusing to me. You can not be both the landlord and the tenant.
Re: I am in default and going into forclosure
If you are the landlord, you are not required to give the tenant notice, since you will be out of there. Once the property is foreclosed, the bank could either negotiate a new rental agreement with the tenant, or give the tenant 30 days' notice by which to move. It makes no sense for you to incur any further expense to evict the tenant.