Comments on: Auction investors, REO brokers, and renters take note – significant change to eviction notice requirements

By: landlord web » renters eviction notice

landlord web » renters eviction notice — Mon, 14 Jun 2010 16:19:54 +0000

[...] 11.Auction investors, REO brokers, and renters take note – Once the judgment for possession is obtained, the sheriff (after payment of fees) will serve an eviction notice. Then sheriff will return about 5 days later to physically remove the occupant, if still in possession. … 1. The notice periods you mention do not apply to renters in foreclosed properties. Federal law now… [...]

By: Sean O'Toole

Sean O'Toole — Fri, 28 May 2010 16:22:34 +0000

No, I’m not an attorney. Note that foreclosure is public record and if it is scheduled for sale in 30 days it was on record months before you signed your lease. That doesn’t affect you much, but I’d highly recommend you check foreclosure status of a property before you sign a lease on your next place.

Very few properties are purchased by owner-occupants at the courthouse so you can likely stay to the end of your lease under the federal law outlined here. Note the buyer is NOT responsible for getting your deposit back for you, so make sure you work that out with the current landlord soon.

By: don

don — Fri, 28 May 2010 15:47:41 +0000

The house has not yet gone to sale, but will in 30 days. I signed my lease 2 months ago. I live in Calif.

Plus Leases are not recorded. Are you an attny?

By: Sean O'Toole

Sean O'Toole — Mon, 24 May 2010 18:37:01 +0000

Your attorney is incorrect. The lease is wiped out by the foreclosure sale unless it was recorded prior to the loan being foreclosed on (extremely unlikely). I wouldn’t worry too much though, very few owner-occupants buy property at trustee sale. The law above provides some protection, but clearly excepts owner-occupants, see Sec 502(a)2A.

That said, you’d be wise to plan on moving. Whomever ends up with it is going to want you out, and will likely offer you cash to move and leave the place clean. You’ll be moving sooner or later, might as well take the cash and move now.

By: don

don — Mon, 24 May 2010 17:55:36 +0000

I am leasing a house on a 2 year lease. The house is going to be going to a trustee sale soon. I spoke with my attorney, and he tells me that if the bank takes the property back that they must honor my lease. I asked him,”What if the bank sells the house to a buyer who wants to owner occupy the property?” He told me that the new owner must still honor the original lease to its full term. Does this sound correct? My attny is pretty sharp.. top of his class at Santa Clara University Law School in real estate law for 20 years.

By: Tom

Tom — Fri, 07 May 2010 20:52:41 +0000

In California, unlawful detainer actions (evictions) can be fast, but not that fast. The complaint and summons must be filed with the Superior Court in the county of the property, served on the tenant, then the tenant has 5 days to answer. If no answer, a default judgment can be obtained by the owner. Once the judgment for possession is obtained, the sheriff (after payment of fees) will serve an eviction notice. Then sheriff will return about 5 days later to physically remove the occupant, if still in possession. Normally the owner and a locksmith meet the sheriff there.

By: Jin Cummings

Jin Cummings — Wed, 07 Apr 2010 16:10:34 +0000

The protection offered by building and contents insurance, can cover a valuable home and all of its contents against a huge range of risks, but if you are one of the thousands of people struggling to afford the mortgage that comes with a new house your first home then there are various government initiatives to help, it is easy to find them.

By: Eviction

Eviction — Wed, 27 Jan 2010 07:40:39 +0000

I believe this will create individuals making up fake contracts, what does the bank expect. The problem is getting worse.

By: Brampton

Brampton — Sat, 29 Aug 2009 04:45:00 +0000

i think this is a great bill for people. This will help people get back on their feet before they put on the street. The old law had no type of timeframe and put alot people on the street right away. This is so bad when people have kids so this effects more people then you.

By: Sean

Sean — Fri, 14 Aug 2009 21:12:05 +0000

You only get 3 days notice in CA. But after that they can't just evict you, they have to file an unlawful detainer suit, so it will likely by 30-90 days before a sherrif can throw you out. Note that if you force the eviction the judge will also award the new owner a money judgment against you for fair market rent from the day the property was foreclosed on until the day you were removed.

Best bet though is to negotiate with the new owner. Typically they will give you some cash to move quickly and leave the place clean. That also will keep you from having an eviction lawsuit and judgement on your credit record.