Legal Question in Real Estate Law in Florida
For a tenant who's landlord is engaged in foreclosure proceeding - which the tenant is watching the actions and reading the mail that he's copied on during the proceedings - at what point does ownership in the property officially switch over to the bank? Then, once that happens, how does the tenant ensure he stays clear of negative actions like evictions? My general understanding is that a tenant, who has been paying all along, is given 90 day notice. Is that an "eviction"? Also, on month-to-month lease, do I start paying bank? Not sure how it works...
1 Answer from Attorneys
The foreclosure sale would be the sign of change of ownership. While you presume that it will be the bank it may be another party. You should receive notice from the new owner to vacate or perhaps to rent from them. The best way to make sure you are notified is to contact the bank's attorney and ask them to keep you in the loop and advise you when and if you need to move. Do that in writing.
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