Posted on: 27th Feb, 2012 02:40 am
I had it enough… I can no more deal with the creditors/lender. I have decided to file bankruptcy. I have a tenant on my property and want to know when will the tenant have to move out? Are there any tenant protections?
Hi Billy,
As far as I know, when the trustee sells off the property, the tenant will have to leave the property. Nevertheless, the tenant may negotiate with the new buyer and the trustee and keep on renting the property. You can speak to your bankruptcy attorney and check your state laws in order to find out if there are any tenant protection laws.
Take care.
As far as I know, when the trustee sells off the property, the tenant will have to leave the property. Nevertheless, the tenant may negotiate with the new buyer and the trustee and keep on renting the property. You can speak to your bankruptcy attorney and check your state laws in order to find out if there are any tenant protection laws.
Take care.
Hi Billy!
Welcome to forums!
I am in complete agreement with Sara. Once the property is sold off, the lender will send an eviction notice which will mention the time period within which they will have to leave the property. However, if they can convince the lender, then they can stay in the property for some more days.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I am in complete agreement with Sara. Once the property is sold off, the lender will send an eviction notice which will mention the time period within which they will have to leave the property. However, if they can convince the lender, then they can stay in the property for some more days.
Feel free to ask if you have further queries.
Sussane
Obama signed a tenant protection law stating that tenants have the right to stay in their homes after foreclosure for 90 days or through the term of their lease. The protections went into effect in 2009 and expire at the end of 2012.
Unless the tenant is allowed permission to stay by the new home owner, they have 90 days to move.
Unless the tenant is allowed permission to stay by the new home owner, they have 90 days to move.