Legal Question in Real Estate Law in California

Re: rental in forclosure

In a foreclosure, your current landlord owns the property until such time as the bank, or someone else buys the property at the foreclosure sale. You must pay rent to the current landlord until that date. How will you know when that happens? Nobody will likely notify you on the date so you'll either have to do some research to find out when the "Trustee's Sale" is scheduled for, or you can wait for a notice from the bank (or buyer at the foreclosure sale) indicating that they now own it. At that point, you are essentially at he mercy of the bank or buyer. California law recently changed, and the bank cannot simply evict you right after they acquire the property - they have to give you sixty days notice. They can charge you rent during that time, but so far I've heard mixed stories as to whether they do or not. Plan on paying rent until you move, and if the bank gives you 60 (or more) days free, then consider that a bonus. Good luck - sadly this forum is littered with questions from people in exactly your same situation.

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