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Posted by Mark Smith on April 17, 1999 at 10:18:21:

In Reply to: LL defaulted, bank has taken over posted by M. Alvarado on April 17, 1999 at 00:32:16:

Foreclosure laws vary from state to state. New York tenants have fairly good protections. If you are rent regulated, the foreclosing bank (except in vary rare circumstances) or the purchaser at a foreclosure sale can't evict you. Even if you are not rent regulated, you must be named in the judicial foreclosure papers if the mortgagee wants to terminate the lease before the expiration date.

California is a non-judicial foreclosure state. The mortgagee (bank) does not have to go to court to take possession of the house. You should find out, doing an internet search, what legal steps the bank or the purchaser at a foreclosure sale has to take to gain possession of your unit. It will also depend on the situation whether the new owner wants to evict you. If it is an apartment house and you are paying market rent, the new owner may be glad to have you stay. If it is a single-family home and the new owner wants to live there, the new owner will try to evict you.

At least you got a letter from the bank. There is a terrible situation in Maryland, where cities and towns have taken over property for non-payment of taxes, and then sold the property. The new owners often evict the tenants, without notice, while they are at work, and toss their belongings in the street, where anyone can take them.

I wouldn't be too concerned about not paying the rent for the past two months. You can tell the bank or the new owner that you were confused about paying it to the old owner. Even if you paid it to the old owner, the bank or the new owner might expect you to pay it -- again -- to them.

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: I live in LA; The LL has defaulted and lost the property I live in.
: I have not pd. rent in the last 2 Mos. I received a letter from
: the bank, stating that the house will be auctioned.
: What are my rights if the house is sold?

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Comments:
: Foreclosure laws vary from state to state.  New York tenants have fairly good protections.  If you are rent regulated, the foreclosing bank (except in vary rare circumstances) or the purchaser at a foreclosure sale can't evict you.  Even if you are not rent regulated, you must be named in the judicial foreclosure papers if the mortgagee wants to terminate the lease before the expiration date.  

: California is a non-judicial foreclosure state.  The mortgagee (bank) does not have to go to court to take possession of the house.  You should find out, doing an internet search, what legal steps the bank or the purchaser at a foreclosure sale has to take to gain possession of your unit.  It will also depend on the situation whether the new owner wants to evict you.  If it is an apartment house and you are paying market rent, the new owner may be glad to have you stay.  If it is a single-family home and the new owner wants to live there, the new owner will try to evict you.

: At least you got a letter from the bank.  There is a terrible situation in Maryland, where cities and towns have taken over property for non-payment of taxes, and then sold the property.  The new owners often evict the tenants, without notice, while they are at work, and toss their belongings in the street, where anyone can take them.

: I wouldn't be too concerned about not paying the rent for the past two months.  You can tell the bank or the new owner that you were confused about paying it to the old owner.  Even if you paid it to the old owner, the bank or the new owner might expect you to pay it -- again -- to them.

: ==============================================

: : I live in LA; The LL has defaulted and lost the property I live in.
: : I have not pd. rent in the last 2 Mos.  I received a letter from 
: : the bank, stating that the house will be auctioned.
: : What are my rights if the house is sold?



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