Legal Question in Real Estate Law in California

Re: Renter's Rights

Talk with the new buyer about continuing your rental. It might be worth it to have a tenant looking after a foreclosed property rather than having it subject to vandalism and the like.

Re: Renter's Rights

Unfortunately, the mortgage trustee will probably not want to deal with you (as much as it might be in their long-term interest to have a tenant). Short of bidding at the foreclosure sale, you should hold out for the return of your security deposit and some "key money," say $500-$1000 in exchange for their not having to evict you. Make sure any deal you make is signed by someone you are sure has authority to sign on behalf of the owner.

Re: Renter's Rights

First, I assume you are the tenant. "Rent" can mean "rent out."

Once in a rare while a tenant's rights are superior to those being exercised by the foreclosing lender. A long-term lease that was in place before the loan that's being foreclosed was made and recorded might oblige the buyer at foreclosure to take "subject to" your lease.

If you are month-to-month, or your lease will expire soon, or the loan predates your lease, the foreclosure will wipe out your rights as renters or lessors, and the buyer at foreclosure will be able to evict you on shore notice, although you do have the right to legal process (an unlawful detainer action) and cannot summarily be thrown out.

You also have the right to attend and bid at the foreclosure sale, and of course if the buyer doesn't intend to live in the place, it will probably consider giving you a replacement lease or rental agreement, although he/she/it is not obliged to do so.

Re: Renter's Rights

First, I assume you are the tenant. "Rent" can mean "rent out."

Once in a rare while a tenant's rights are superior to those being exercised by the foreclosing lender. A long-term lease that was in place before the loan that's being foreclosed was made and recorded might oblige the buyer at foreclosure to take "subject to" your lease.

If you are month-to-month, or your lease will expire soon, or the loan predates your lease, the foreclosure will wipe out your rights as renters or lessors, and the buyer at foreclosure will be able to evict you on shore notice, although you do have the right to legal process (an unlawful detainer action) and cannot summarily be thrown out.

You also have the right to attend and bid at the foreclosure sale, and of course if the buyer doesn't intend to live in the place, it will probably consider giving you a replacement lease or rental agreement, although he/she/it is not obliged to do so.