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The owner is about to lose his property to foreclosure. I plan on purchasing the property at the foreclosure sale and living in the property. There are tenants living in the property. Can I give the tenants the ninety day notice now or do I have to wait until after the foreclosure sale?

You have to wait until after the foreclosure sale to give the tenants a notice to vacate.

The Act requires the new owner of the property, after the foreclosure sale, give the tenants notice

to vacate. The owner of the property after feclosure does not exist util the title documents

naming the new owner have been filed with thsuperior court in the county where the land is

located. Any notice sent prior to the filing of the new title does not have any legal effect.

I purchased a home at a foreclosure sale. The former owner had his mother sign a three- year lease before the foreclosure sale. The rent under the lease is very low. Do I have to honor the lease?

No, to qualify for protection under The Precting Tenants at Foreclosure Act the lease

between the tenant and the former owner, who losthe property to foreclosure, must meet the

following:

  • The tenant cannot be the child, spouse or parent of the former owner of the property;

  • The original lease must have been the result of an arms-length transaction. The lease must not be an attempt to avoid or gain the protection of this new law; and

  • The rent due under the lease must be close to what other similar units rent for unless the rent is subsidized by the government.

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