real estate foreclosure eviction
What are the legal requirements of a real estate buyer(bidding on foreclosed property) before that buyer/owner can begin evicting tenants from said property?
In short, I’m a tenant in a foreclosed property where the ”notice to quit” was served on 03/30/09 and the ”trustees deed upon sale” is dated 05/14/09.
Re: real estate foreclosure eviction
Only the owner can take legal action, unless you get him to ‘assign’ his rights to you. You get to wait until you get title.
Terry A. Nelson
Nelson & Lawless
18685 Main St., #175
Huntington Beach, CA 92648
Re: real estate foreclosure eviction
With all due respect to Attorney Nelson (especially since his photo shows him holding a long-rifle), I don’t think he understood that you were the tenant in this situation. As the tenant, only the buyer at the foreclosure sale can evict you, since the Trustee’s Deed has recorded meaning someone bought the property at a foreclosure sale. Generally, its going to be the bank, but it looks like you have access to the Trustee’s Deed so see who it has been transferred to.
That person or entity (again, probably the bank), is required to give you a sixty day notice to vacate the premises. The original Notice to Quit served on 3/30 is no longer valid, as the foreclosure sale effectively severs everything from prior to the date of the sale, including your lease of the premises, and any notices given by the former landlord.
You may not receive the sixty (60) day notice for a little while, or it may show up tomorrow. In either case, that’s your trigger to know that in sixty days you need to be out. If you are not, the bank can start an eviction by suing you. You don’t want that. Another possibility is that the bank will do a “cash-for-keys” deal with you. They may give you the sixty day notice, then ask if you would consider moving sooner if they gave you some cash. Hold out for as much as you can, and if you can find a place to move, go early and get some cash from the bank! Good luck.
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David Gibbs
The Gibbs Law Firm, APC
110 E Avenida Palizada, Ste 201
San Clemente, CA 92672-3956