Legal Question in Real Estate Law in New Jersey

Re: short sale

One of several things needs to be done. Since there is no Lease, either the Contract of Sale must include a requirement that the house be free of tenants (this makes the Seller responsible for this), or the Buyer needs to know that having no Lease, the occupants can reside month-to-month, and at least 30 days notice to vacate must be given to end the residency. If the house is not vacant, the Buyer will have to initiate eviction proceedings.

Re: short sale

Your will probably be better off in evicting them now. I suspect that the buyer will not be happy about closing with a holdover tenant and, unless you can deliver possession at the time of sale, seller will likely be in breach of the contract. Besides, I think that you may find the bankruptcy judge to be of assistance in obtaining possession.

Your position will change depending on whether you have been engaged by the bankrupt owner or by the trustee in bankruptcy. If it is the trustee, you can probably just say that you need the property vacant for the sale and let the trustee do the work. If you need more information, call me.

See also: http://info.corbettlaw.net/lawguru.htm