As a landlord, what are my obligations to the tenant if the rental property is in foreclosure?
Although a landlord’s property is in foreclosure, the landlord continues to be the owner of the property until it is sold at a public auction. Even before the property is sold at auction, the landlord may effectively enter into modification of the loan, or short sale the property. Thus, as long as the landlord remains the owner of the property, a tenant has a duty to continue making mortgage payments according to their lease. However, if the tenant is forced to vacate the rental prior to the expiration of the lease, then the landlord may be liable to the tenant.
Related Questions
- Where can I find more information on my rental Property and/or Landlord Tenant laws for the State of Minnesota?
- As a tenant, what are my rights and obligations to the landlord if the rental property is in foreclosure?
- As a landlord, what are my obligations to the tenant if the rental property is in foreclosure?
