Legal Question in Real Estate Law in Nevada
Renters Rights
I am renting a home that went into foreclosure. The bank came and put a lock on my door without evicting me. Is there anything I can do? I have presented them w a lease, they are giving me the run around.
3 Answers from Attorneys
Re: Renters Rights
Absolutely, they did an illegal lockout, probably. It is possible that they served the owner but they should also serve any residents at the house.
The problem is that I charge a Three Thousand Five Hundred retainer, so you may want to take them to small claims.
Re: Renters Rights
The Protecting Tenants in Foreclosure Act, Public Law 111-22, was signed by President Obama on May 20 and became effective at that time.
Under current Nevada law, a person who acquires property at a foreclosure sale may serve the tenant of the property with a notice requiring the tenant vacate within three judicial days.
However, the new federal law preempts the Nevada statutes and affords tenants of foreclosed property more time to vacate.
Under the new federal law, a tenant with a bona-fide lease or tenancy must be permitted to continue to occupy the property until the end of the lease term. For the lease to qualify, the former owner of the property (or his child, spouse, or parent) cannot be the tenant under the lease.
The lease or tenancy must be the result of an arms-length transaction and must require the payment of rent that is not substantially less than fair-market rent for the property. The tenant under the lease or tenancy must continue to pay rent to the new owner.
If the tenant does not pay, he will be subject to eviction under Nevada law for non-payment of rent.
The Act includes an additional exception. If the purchaser at the foreclosure sale intends to occupy the property as his primary residence, the purchaser may terminate a lease effective on the date of sale of the property.
If the tenant does not have a lease for the property, or if the tenancy is terminable at will under Nevada law, the tenant must be given at least 90 days advance notice to vacate.
The federal law does not affect any state or local law that affords tenants longer periods of time or other protections.
Interestingly, there is no government or federal agency charged with responsibility for enforcing the act. The provisions of the new law are self-executing, which means tenants must be prepared to assert their rights under the act in order to protect their interests.
Additional information may be obtained by visiting www.nlihc.org and clicking on Renters in Foreclosure.
Your attorney can explain further.
Re: Renters Rights
I lot depends upon when the notice of default was filed.
There is a new Nevada law that affords more protections to renters.
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I will let you know more specific info. that I need and perhaps I can quote you a more affordable legal retainer.