questions & answers
Question: The house I have been renting month to month has been foreclosed and already been sold to new owners...do I have 90 days to move out and if the new owners ask for rent can they charge me more then what I was paying with me lease or do I not pay them?
Answer: This information is provided as information only, and is not intended to be construed as legal advice. To find out how the laws apply to your specific situation, you may want to consult with an attorney. In 2009, Congress passed the Protecting Tenants at Foreclosure Act (Title VII of S. 896, Pub. L. No. 111-22, §§701 - 704 (2009). This law immediately went into effect when President Obama signed it on May 20, 2009, and it applies to all pending and future residential foreclosures. This act was originally scheduled to expire in 2012 but was extended to December 31, 2014. Prior to the enactment of this law, foreclosure automatically extinguished any leases on the property and the purchasers of the home at auction could immediately evict the tenant. The law now allows for a lease to survive the foreclosure action, meaning “bona fide” tenants can stay at least until the end of their lease, or in the case of a month-to-month lease, tenants are entitled to 90 days’ notice before having to move. However, an exception was created when the buyer of the foreclosed home intends to use the property as his/her residence. If the buyer intends to live in the property, the buyer may terminate the lease with 90 days’ notice. Overall, the new law affords greater protections for tenants in that at least some tenants will be able to remain in their homes until the end of their lease, or will at a minimum be given 90 days’ notice to relocate. This is substantially longer than would otherwise be afforded to a tenant under ARS ARTICLE 3. § 33-341B which states that "A lease from month to month may be terminated by the landlord giving at least ten days notice thereof. In case of nonpayment of rent notice is not required." You may also want to review the article on this site about the Arizona Residential Landlord and Tenant Act, which describes the responsibilities of the landlord and the tenant. Since the term of the new lease begins with the new homeowner/landlord, the rent amount will be likely be negotiated with them. For more Foreclosure Help
The house I have been renting month to month has been foreclosed and already been sold to new owners...do I have 90 days to move out and if the new owners ask for rent can they charge me more then what I was paying with me lease or do I not pay them?
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