Legal Question in Landlord & Tenant Law in California
my rental house is foreclosing
Just found out house we've rented for 8 yrs is foreclosing. It goes to trustee sale in May. Landlord won't discuss it. What are my rights? Do I have 30 days after the sale or when do we have to be out? Do I file anything? Do I get security dep. back? How much time after sale do I have to move out? What does the law say the procedure is on this for the renter now in CA?
1 Answer from Attorneys
Re: my rental house is foreclosing
Keep copies of your rent payments, receipts, etc. Contact the new owner as soon as you determine who it is. Keep adequate funds available to pay back rent, if necessary.
The new owner should send you a notice of ownership and request that you contact it/them. You can try to stay in your place. Some banks prefer an income stream as well as a "caretaker" (such as a tenant) to prevent vandalism and loss of things like wiring, pipes, sinks, etc.
If all else fails, the new owner will give you a 60-day notice to move. Then you can negotiate to be paid cash, etc., in exchange for keys. So, you do have options. But make sure to follow-up with the owner on its reasonable requests to inspect the premises, sign a statement of occupancy, new lease, etc.
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