Legal Question in Real Estate Law in Wyoming

Re: Upset Renter

The sad reality of the situation is that, without a lease, you are probably a tenant at will. A tenant at will can be evicted under the Wyoming Forcible Entry and Detainer laws. The time given for such an eviction is brief if it comes to that.

If the mortgage is unpaid, the bank can begin foreclosure / sale proceedings on the property. If so, it is likely (not guaranteed) that the bank will end up the owner of the property and be able to liquidate the property. The creates several possibilities. You might be able to negotiate a new lease with the bank or, possibly, you might negotiate with the bank for the purchase of the property. Finally, the bank might agree to allow you to continue as an at will tenant until it liquidates the property if you talk to them. Another possibility could be a contract for deed with the owner under which you cure the outstanding mortgage deficit and take over payments from the owner in return for the owners agreement to sell you the property for a specified price with them carrying the balance so that you do not have to obtain a loan.

There are opportunities to work this situation out, but they are more the result of negotiation than the protection of law. The protections afforded by the forcible entry and detainer laws, where you have no lease, are limited.

Please call if you would like to talk more about this.