Posted by on December 12, 2000 at 23:44:22:
In Reply to: do explain posted by Ken on December 12, 2000 at 21:40:17:
Getting a judgment of foreclosure takes quite a while in New York. In addition, the landlady might be able to get new financing to prevent the foreclosure.
Most form leases contain a clause which makes the lease subordinate to the mortgage.
Section 713 of New York's Real Property Actions and Proceedings Law (RPAPL) permits a party who obtains a judgment of foreclosure to commence an eviction proceeding by serving a 10-day notice to quit on the tenant.
Section 721 of the RPAPL permits the purchaser at a foreclosure sale to bring an eviction proceeding.
: Someone (anonymously) has claimed that Dawn and I are wrong, yet has failed to state how or even give any advice other than fear mongering.
: My post was quite clear as to the tenant's rights and responsibilities. Even with a month to month tenancy, there would be 30 days notice to terminate it. If the tenant's lease is subordinate to a mortgage, as anonymous seems to imply, the lease would say so.
: As Dawn and I pointed out, the tenant somehow got notice of the impending foreclosure before the landlady. Why or how, we do not know. But in any case, he doesn't need to "do" anything differently, just pay the rent like he always has. If there is a change of ownership or if his tenancy is to be terminated, he would receive proper notice and could take it from there.
: I challenege anonymous to come out from anonymity and respond to the facts I have posted here.
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