Legal Question in Real Estate Law in California
Residential Property After Foreclosure
Hi,
When do the new owners of the foreclosed property actually legally own the property?
How long does the previous owner have to move out?
Thank you
1 Answer from Attorneys
Re: Residential Property After Foreclosure
The new owner takes title as soon as the trustee's deed is signed and handed to them. Then they record it at the county recorder's office.
If the occupants do not vacate voluntarily, the new owner must follow the proper procedures required for an eviction lawsuit. If the occupants are the former owners, the new owners must file a 3-day notice to quit. If the occupants are tenants of the former owners, then a 30-day notice to quit is required. If they do not vacate, then the new owner can file an eviction lawsuit.
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