QUESTION
Can a landlord rent out his condo while it is in foreclosure proceedings?
Asked on May 30th, 2012 on Landlord and Tenant Law - New York
More details to this question:
Rented a condo on a month-to-month term, then found out (from previous tenant who had still not gotten security deposit after vacating over 4 months earlier) 7 days later that the condo is in foreclosure proceedings. Told him to give me monies paid and I would vacate, he attempted to re-rent (in order to get monies to me) and previous tenant warned others (via Craigslist). Landlord took ad down immediately and vacate was withdrawn. Isn't it illegal to rent a foreclosure property? Do I have to pay full rental monies or can I just pay homeowners association fees? Outside of small claims case, what justice do I have? Is it true that if bank finalizes foreclosure, they lock down condo and any items/belongings of mine I would have to go to court to retrieve?
3 ANSWERS
The short answer to this is that you need to vacate the premises to protect yourself and your belongings. You could certainly attempt to intervene int he foreclosure proceeding to allow you to stay until the term of the lease is up and protect your property, but this would cost you money. The safest thing for you to do is to vacate and then attempt to recover your funds from the landlord.
Answered on Jun 15th, 2012 at 8:56 AM
Criminal Defense Attorney serving Montrose, NY
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Law Office of Jared Altman
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Yes. He can rent the condo in foreclosure. The bank must give you ten day's notice to leave.
Answered on Jun 08th, 2012 at 7:49 AM
Transportation Attorney serving Mamaroneck, NY
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Palumbo & Associates, PC
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No it is not illegal to rent property while in foreclosure.
Answered on Jun 07th, 2012 at 1:41 AM