If I am leasing a home and the owner is not paying his mortgage what are my leagal rights in California?
Question : If I am leasing a home and the owner is not paying his mortgage what are my leagal rights in California?
california home mortgage
Best answer:
Answer by Simpson G
Legal rights in regards to what?
If the house goes into foreclosure while you still have a valid and bona fide lease, your lease will transfer with the property to the new owner.
If you are month to month or don’t have a bona fide lease, then you can be given 90 days notice to vacate.
You cannot break your lease simply because the house may go into foreclosure and you must continue making payments to your landlord until the property sells.
If you get a notice of foreclosure, you’ll want to send a letter to the landlord telling him to use the security deposit to pay for rent. Tell him that if he ends up keeping the house, you will repay the security deposit.
This entry was posted by admin on October 17, 2010 at 7:43 pm, and is filed under Loans & Mortgages. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.
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This has little effect on you. Your rights are exactly the same as they would be no matter what he was doing with his money.