Legal Question in Real Estate Law in Tennessee
I am renting to own a home. Four months after residing in the home, it went into forclosure. The lanlord did get the home out of forclosure, however I would like to know if the contract was breeched because we signed the agreement unaware of the forclosure status on the home?
1 Answer from Attorneys
A precise and complete answer to your query would require a review of your contract, to determine what obligations you and the landlord have regarding, given the facts. However, knowledge of foreclosure prior to signing the contract could be considered "material" - in other words, you could argue that you wouldn't have entered into the contract had you know about the pending foreclosure, and that the landlord intentionally withheld this information from you. However, if the home is no longer in foreclosure then it may be that the landlord has honored the terms of the contract and therefore there would be no grounds for termination.
Ultimately, however, your rights are determined by the contract terms which would have to be considered in full, in order to provide a complete and thorough response.
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