Legal Question in Real Estate Law in Florida
Foreclosure on Rental Property:
My wife and I own a villa we can't sell. We're considering renting it. If we rent the villa, buy a single family home, the renters don't pay rent and the bank forecloses on the villa, can the bank place a lien on the single family home?
Asked on 9/16/08, 10:08 pm
1 Answer from Attorneys
Brent Rose
The Orsini & Rose Law Firm
Re: Foreclosure on Rental Property:
Yes, but they can't foreclose on it if the single family home is your homestead (i.e., your primary residence). The lien will remain on the single family residence until the home is sold or otherwise transferred, though. Then the lien will have to be paid.
Answered on 9/16/08, 10:13 pm
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