Legal Question in Real Estate Law in California
What happens if my move out date is past trustee sale date?
My landlord and I went to court. We came to an agreement, no back rent owed and I move out by a certain date. I knew he was in foreclosure and trying to get a short sale approval. He got the approval but no offers. My question is do I still have to move if the auction is before the date I agreed to move (have not found a home) sale is next week. And will the bank automatically postpone the sale if he has a short sale approval but no offers and haven't had one in the 5 months he is trying to sell.
Location: Riverside, CA - change
2 Answers from Attorneys
If the trustees sale goes through, you will not have to move out as promised, but you can be evicted by the new owner at any time. Since you don't have a valid lease in place, you don't qualify for the protections of the recent federal legislation giving 90-days after a trustee's sale for tenants to move. Also, if the sale is postponed you will be in breach of your settlement with the landlord. Not a good thing.
We are finding a lot of trustee sales being held notwithstanding active negotiations for short sales or restructuring. So, it's impossible to rely upon a particular outcome. Your best bet is to plan so that you won't be in breach of your agreement with the landlord, whether the sale happens or not.
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