New Protection From Foreclosure For California Tenants
New Protection From Foreclosure For
Ironically, those tenant protections were tucked into the Homeowners Bill of Rights.
A central provision turns prior foreclosure law 180 degrees: now, a buyer at a foreclosure sale, whether lender or third party, becomes a landlord when there are tenants in the property.
At common law, a foreclosure cut off all those people whose rights in the property were held through the foreclosed property owner. The new owner had few obligations to tenants.
Things have changed in
Five New Rights
- Bona fide tenants must get 90 days notice to vacate.
- Tenants with lease are entitled to stay to lease end (unless the buyer intends to move in)
- Local “just cause” eviction protections apply to buyer at foreclosure sale
- Tenants can fight eviction without it becoming black mark on credit report
- Tenant not named in eviction suit can claim a right to possession up until the sheriff completes eviction.
Contract www.TriValleyMangement.com for more info or call 925-290-8143.