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Old 02-07-2012, 09:20 PM
 
67 posts, read 185,844 times
Reputation: 34

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Hi everyone.

I just received an email from my landlord February 2nd that the condo we are living in as tenants is being foreclosed upon. It is being sold on 2/20 of this month and she stated we need to leave by February 18th. My finance and I do not have friends or family in the area and cannot move that quickly.

Does anyone know what are rights are, who could help us and what we should do next (i.e. do we need inform that lender who is selling the condo that we are occupying the condo as tenants and intend to stay. What happens to our security deposit) Thanks!
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Old 02-07-2012, 09:29 PM
 
1,378 posts, read 4,351,561 times
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You might want to post this question in the Renting Forum.

Who sent the e-mail?

You have a binding lease and as long as you keep paying rent, you should be allowed to stay. I
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Old 02-07-2012, 10:18 PM
 
497 posts, read 1,500,316 times
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Quote:
Originally Posted by Trish94 View Post
Hi everyone.

I just received an email from my landlord February 2nd that the condo we are living in as tenants is being foreclosed upon. It is being sold on 2/20 of this month and she stated we need to leave by February 18th. My finance and I do not have friends or family in the area and cannot move that quickly.

Does anyone know what are rights are, who could help us and what we should do next (i.e. do we need inform that lender who is selling the condo that we are occupying the condo as tenants and intend to stay. What happens to our security deposit) Thanks!

Make an extra set of keys....move out then move back in. You probably have 1 year+ of free rent coming your way. : ) Save up and put a down on a small condo somewhere. woo hoo!
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Old 02-07-2012, 10:38 PM
 
362 posts, read 816,052 times
Reputation: 160
Really depends on what jurisdiction your unit falls under, but sounds like a really shady situation given the limited info thus far...


LA Rent Control Made Simple
According to this, "Rented condos are now exempted from rent limits [by the State law, known as the Costa-Hawkins Act], but not from eviction protections or otherwise."

So you may have eviction protections as per...

Rent Stabilization

http://lahd.lacity.org/lahdinternet/...language=en-US

The just causes for eviction are listed here:
http://lahd.lacity.org/lahdinternet/...language=en-US


There's some informed posters here that I'm sure will chime in (Calguy, etc). First advice, get in touch with the LAHD and/or HACLA, verify if you have tenant protections, and go from there.

Good luck.
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Old 02-07-2012, 10:44 PM
 
33 posts, read 182,358 times
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Default Looks a Bit Complicated

Check out this website: Tenants Together*:*Action Guide for California Tenants in Foreclosure Situations

I don't have the time to figure out the latticework of federal, state, and city laws governing the rights of tenants post-foreclosure, but -- if this website is correct -- it looks like you should have some leverage with the buyer at the foreclosure sale. Of course, if the buyer wants the property as an investment, they probably won't mind a paying tenant.
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Old 02-08-2012, 03:14 AM
 
4,537 posts, read 10,602,460 times
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Your landlord is nuts.

They have to give yOu at least thirty days. If you have a lease, the new owners must honor the lease.
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Old 02-08-2012, 03:34 AM
 
Location: St Thomas, US Virgin Islands
24,665 posts, read 69,547,222 times
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You're protected under CA law and have until the end of your lease. This site will explain everything very simply:

California Tenants' Rights During Foreclosure | Home Guides | SF Gate

I believe that since the foreclosing institution basically takes over the whole property along with your lease that they'll ultimately be responsible for returning your security deposit. Stay calm!
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Old 02-08-2012, 04:33 AM
 
1,378 posts, read 4,351,561 times
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Quote:
Originally Posted by greggd1 View Post
Make an extra set of keys....move out then move back in. You probably have 1 year+ of free rent coming your way. : ) Save up and put a down on a small condo somewhere. woo hoo!
Why would they get a year of free rent?
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Old 02-08-2012, 07:51 AM
 
912 posts, read 5,247,234 times
Reputation: 2089
Quote:
Originally Posted by greggd1 View Post
Make an extra set of keys....move out then move back in. You probably have 1 year+ of free rent coming your way. : ) Save up and put a down on a small condo somewhere. woo hoo!

YaaaaaaaaaaaaaaaaY! Lets get arrested, charged and booked for breaking and entering, trespassing, disorderly conduct, ect.

Also, who buys a place and doesn't change the locks as the #1 thing before anything else?
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Old 02-08-2012, 09:04 AM
 
67 posts, read 185,844 times
Reputation: 34
Thanks everyone for the helpful advice. Are there any free legal resources out there in LA to help with the specifics.
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