Quote:
Originally Posted by katebrennan
Does the renter who has a lease with the foreclosed former owner have 30, 60 or 90 days to stay and pay rent to new owner (bank)? Arizona.
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Federal law requires that tenants in foreclosed properties receive a 90‐day notice prior to being evicted. Specifically, the new law requires that, in the event of a foreclosure, the new owner must allow tenants with leases to occupy the property until the end of the lease term. There are three exceptions to this rule:
- The lease can be terminated on 90 days notice if the unit is sold to a purchaser who will occupy the property.
- The lease has fewer than 90 days remaining.
- The tenancy is month‐to‐month or a tenancy at‐will, in which case the new owners must provide the tenant with 90 days notice prior to eviction.
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