QUESTION

i have a 36 month lease on a house with 28 months remaining. the property just got forclosed and i want to know if i am ok. in florida

Asked on Sep 07th, 2012 on Real Estate - Florida
More details to this question:
my payment is low because i had to put in all applaince, re-plumb the whole house, fix pool etc. lease is signed and witnessed. am i ok
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2 ANSWERS

Probate & Trust Attorney serving Fort Lauderdale, FL at Parady & Zikakis, P.A.
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Notwithstanding the foreclosure, you may have important legal rights pursuant to the federal Protecting Tenants At Foreclosure Act, which Act remains in effect through the end of this year. The following is a link to the Act: http://www.fdic.gov/news/news/financial/2009/fil09056a.pdf   The foregoing is specific to the law and procedure in Florida.  This response does not constitute legal advice as the facts presented are limited and unstated facts will likely impact your particular situation. This response is intended for general education only and does not create an attorney-client relationship. Please schedule a consultation with a local attorney for more specific and detailed answers to your legal issues.
Answered on Sep 13th, 2012 at 1:08 PM

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A foreclosure usually closes out all subordinate interests, including leases.  Once the foreclosure and sale are complete, your rights and interests under the lease are usually terminated.  Continued occupancy would be on a month to month basis.  It is possible that you could enter into an agreement with the lender or the purchaser at the foreclosure sale for continued occupancy.   Also foreclosures are a process not an event.  From the first filing, it can take anywhere from 6 months to 24 months before the sale, depending on many factors including how vigorously the action is defended.  You should have been named in the foreclosure complaint as a tenant, so you have the right to participate in the lawsuit.  I suggest that you get an attorney who might be able to protect your interests in the lawsuit, and possibly recover some of the value that you have added to the property. This is specific to Florida law and does not constitute legal advice as the facts presented are anonymous and incomplete. This is intended for general education only and does not create an attorney-client relationship. This should not be relied on and you must seek your own attorney client relationship.
Answered on Sep 10th, 2012 at 8:55 AM

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