New guy here, My landlord got foreclosed on today, need advise (rental, insurance)

[Raffeer]

Originally Posted by Momma_bear

The association MAY demand it. So far the OP has not said that he has received any demand letters.

As a matter of fact the OP didn't say there was an HOA or Condo Association to contend with. I just mentioned this in case there was.
FWIW this just became law 7/31/10. Most of the associations are just beginning to put it into play.

[33060]

Originally Posted by Momma_bear

There is a lot of erroneous information in this thread. The OP really needs to consult with a lawyer. I do not believe it is true that ownership transfers upon RECORDING. I think that ownership transfers when the deed is transferred. A lawyer should be able to clarify that for us.

Right now the same person owns the property as before. The OPs contract is with that person. IF ownership is transferred via auction that is scheduled to happen in January 2011 so the OP should have plenty of time to get out should he need to do so.

Any property transfers must be recorded to make it official, that is why mortgages are recorded, deeds, doc stamps paid etc etc.
Give someone a 2nd mortgage and don't bother to have it recorded, you have no legal interest in the property.

But again, anyone should contact a lawer well versed in this.

[Momma_bear]

Originally Posted by 33060

Any property transfers must be recorded to make it official, that is why mortgages are recorded, deeds, doc stamps paid etc etc.
Give someone a 2nd mortgage and don't bother to have it recorded, you have no legal interest in the property.

But again, anyone should contact a lawer well versed in this.

I just conferred with my husband (a FL lawyer). He says that title transfers when the deed is transferred, typically at closing. It is still required that the deed be recorded, but a delay in recording the deed does not change the fact that ownership has been transferred.

[33060]

Originally Posted by Momma_bear

I just conferred with my husband (a FL lawyer). He says that title transfers when the deed is transferred, typically at closing. It is still required that the deed be recorded, but a delay in recording the deed does not change the fact that ownership has been transferred.

At a typical closing yes, but seldom both parties are at foreclosure hearings, different statutes, but please correct me, if wrong.
My wording of recording was incorrect, should have used the word filed, but nevertheless the tiltle is not conveyed at the foreclosure sale. After the foreclosure sale, A minimum of 10 days must elapse before the clerk can file a ‘Certificate of Title’ which conveys actual title, then the new owner can apply for a ‘Writ of Possession’ which allows the new owner to have occupants served to gain possession. In the case I was party to, this took almost a month after sale

Then there are the tenant lease issues,

May 20, 2009, President Obama signed the "Protecting Tenants at Foreclosure Act of 2009." This legislation provided that leases would survive a foreclosure, meaning the tenant could stay at least until the end of the lease, and that month-to-month tenants would be entitled to 90 days' notice before having to move out

The bluffing I was referring to is the "cash for keys" that has become a very popular offer for tenants before legal possesion.

Would I move out before the sale date, probably, but realisitcally there is time after the sale, how much, depending on how agressive the tenant is.
A lawyer handling the foreclosure for the lender in one case told him that he could stretch it out to 5 or 6 months.

As always anyone should consult with a good real estate/ foreclosure lawyer for their situation.

[Anker]

Chapter 83 of the Florida Statues covers landlords and tenants. It is accessible on the internet. Momma Bear is wise by telling you to seek the counsel of a lawyer. Keep paying your rent or you will have defaulted on your contract with the landlord. His defaulting with his bank is between those two. The landlord must give you in writing the location of your deposit e.g. bank and account number,within thirty days of signing the lease and he is not allowed to comingle it with his personal finances.

[maky0317]

same thing happen to me! but when i got served with the 1st papers for court i stopped paying for my rent...yes the owner got mad but she stop asking after 2 weeks. the fact the she stop paying the mortgage one year and a half ago, she really did not have the guts to takes to court and face a judge for an eviction process. so now i havent paid rent for year... what i do pay is the assessment fees.

[fauve]

Originally Posted by maky0317

same thing happen to me! but when i got served with the 1st papers for court i stopped paying for my rent...yes the owner got mad but she stop asking after 2 weeks. the fact the she stop paying the mortgage one year and a half ago, she really did not have the guts to takes to court and face a judge for an eviction process. so now i havent paid rent for year... what i do pay is the assessment fees.

You pay the fees the condo assesses? I wouldn't. It's not your responsibility - it's the owner's. When the condo is finally sold, those fees will be taken out of the purchase price and given to the association.

[Raffeer]

Uh Fauve the law has changed, in July I believe.
In an HOA, I am assuming condo ssociations are the same. "If the parcel is occupied by a tenant and the parcel owner is delinquent in paying any monetary obligations due to the association, the association may demand that the tenant pay to the association the future monetary obligations related to the parcel."
The demand is continuing in nature and the Tenant is immune from any demands by the parcel owner. Also the HOA may evict the tenant if the obligation is not met (obviously after due notice is given to owner and tenant).
This is only fair to the other members of the HOA or Condo Association. There are bills to be paid. The other owners will find their fees increased to make up the shortage of those who are not paying.

[fauve]

Originally Posted by Raffeer

Uh Fauve the law has changed, in July I believe.
In an HOA, I am assuming condo ssociations are the same. "If the parcel is occupied by a tenant and the parcel owner is delinquent in paying any monetary obligations due to the association, the association may demand that the tenant pay to the association the future monetary obligations related to the parcel."
The demand is continuing in nature and the Tenant is immune from any demands by the parcel owner. Also the HOA may evict the tenant if the obligation is not met (obviously after due notice is given to owner and tenant).
This is only fair to the other members of the HOA or Condo Association. There are bills to be paid. The other owners will find their fees increased to make up the shortage of those who are not paying.

gotcha...so if there is a special assessment for a new roof or repaving of common street, etc., in the thousands, the tenant must pay it. Hmmm. I had thought the law change only pertained to monthly fees.

[Raffeer]

Originally Posted by fauve

gotcha...so if there is a special assessment for a new roof or repaving of common street, etc., in the thousands, the tenant must pay it. Hmmm. I had thought the law change only pertained to monthly fees.

Point well taken. The law does say "any monetary obligation" so one can assume special assessments would be included. If I was a tenant in that situation (special assessments) I think it would be a signal to start looking for another address.