QUESTION

lease status upon short sale of property in florida

Asked on Jun 10th, 2012 on Real Estate - Florida
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1 ANSWER

I think you are asking what happens if a tenant resides in a house that is subject to a short sale.  This actually gets very complicated and may depend on the terms of your lease, what notices you have received, etc.  The general rule (subject to exceptions) is that the lease document is binding in accordance with its terms.  A short sale by itself would not require that a tenant vacate the property, but such a sale would be subject to the terms of the lease.  However, there are a lot of people in a short sale transaction that will want the tenant out of the property.  Perhaps the buyer in the short sale might accept the lease and allow the tenant to remain in the property for the rest of the term.  If not, usually one of the conditions of the short sale contract is to deliver the property free and clear of tenants and leases. 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 Jun 11th, 2012 at 1:43 PM

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