Re: Renter, Owner in default
Posted by steele in minnesota on November 21, 2008 at 06:08:59:
In Reply to: Renter, Owner in default
Posted by SSM on November 20, 2008 at 18:53:43:
We are seeing a lot of this kind of situation as of late.
If your lease is up in January and the owner says live in the house until the bank takes over then I would be checking to see just what kind of timetable is involved. When is the Sheriff Sale/Auction? What state are you in?
The sale may not be for months. You could stay at least until then. If your state has a redemption period, perhaps longer. Mind you, I would be preparing for a move eventually as the banks want the properties empty when they put them up for sale.
But you might got a month or three free rent if the owner decides not to charge. He could go month to month on rent as long as he owns the place. You might want to clarify that with him. He can legally collect rent until the property changes hands, usually the auction date.
Steele
Follow Ups:
- Re: Renter, Owner in default - NJD 07:31:41 11/21/08
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