Profile picture for hopetropper

what happens if you want to rent a home that is in default?

I found a house to rent but its in default? If a one year lease is signed do they have to abide by it or not. 
  • December 11 2012 - Los Angeles
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Answers (4)

Profile picture for hopetropper
thank you for your feed back. I wont take the chance and i guess i'll find another house. this house was amazing. I guess thats why its to good to be a good thing. thank you so much. 
  • December 12 2012
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When title to a house is foreclosed, all lesser property interests drop off, like second mortgages and leases.  Thus, the new landlord will not have to honor your lease.
  • December 12 2012
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In some states a landlord is legally forbidden to write a lease that extends past the foreclosure date and any redemption period. If you insist on leasing this house, check with an attorney to determine CA law.
  • December 11 2012
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Profile picture for wetdawgs
While there are federal laws to protect a tenant in property that goes to foreclosure, in reality it can be quite a headache.     Federal law protects the tenant with a lease and requires 90 day notice for a tenant renting month to month.   (The lease must be with market value rent for a normal lease period (such as a year).  A non-market rent lease for an unusual time would  not be honored (e.g.  $1/month for 20 years wouldn't be honored.) )

If you already know the property is in default, I'd not get involved in the situation.   An landlord who is defaulting on property isn't likely to be particularly good about repairs and other aspects that are needed for comfortable renting.

  • December 11 2012
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