Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Mar 2010
    Posts
    1

    Default Deposit in Lieu of Rent, Foreclosure Imminent

    My question involves a security deposit in the State of: California

    I rent a single family home that was due to be foreclosed on April 1, 2010. I have just received notice within 48 hours prior to sale, that trustee has postponed this action 30 days while a loan modification is negotiated.

    I know that CA Lease Agreement per C.A.R. includes terms that a security deposit may not be used in lieu of a last month's rent. However, our security deposit was transferred to landlord instead of being held in broker's trust account, so it is highly unlikely I would see this returned without filing some sort of legal action against landlord post-foreclosure.

    There are reasonable rentals available in my area. I would like to give 30 days notice of my month-to-month lease without paying a final month's rent due to the fact my deposit will likely not be returned. Would this be possible?

    Does notice of trustee sale provide for constructive notice of eviction?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Deposit in Lieu of Rent, Foreclosure Imminent

    Under the Protecting Tenants at Foreclosure Act, you can ordinarily remain in residence after foreclosure for up to 90 days, or longer if your lease extends past 90 days, as long as your rent is current. If you choose not to pay your rent, you can be evicted. The possibility of a foreclosure does not of itself allow you to escape your lease.

    1. Sponsored Links
       

Similar Threads

  1. Adverse Possession: Foreclosure Imminent, is Adverse Possession Our Only Choice
    By Dr. Pepper in forum Real Estate Ownership and Title
    Replies: 2
    Last Post: 11-18-2009, 08:59 PM
  2. Roommates: Lease Ending, Forfeiting Deposit in Lieu of Rent
    By kuromi in forum Landlord-Tenant Law
    Replies: 1
    Last Post: 07-21-2009, 09:14 AM
  3. Foreclosure: Deed in Lieu or Foreclosure
    By fred834 in forum Buying, Selling and Conveying Real Estate
    Replies: 3
    Last Post: 07-03-2009, 02:22 PM
  4. Foreclosure: Deed in Lieu of Foreclosure
    By lmgg in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 09-25-2008, 07:36 AM
  5. Foreclosure: Imminent Foreclosure
    By CM1956 in forum Buying, Selling and Conveying Real Estate
    Replies: 8
    Last Post: 08-04-2006, 08:16 PM
 
 
Sponsored Links

Legal Help, Information and Resources