Posted on: 12th Mar, 2007 01:33pm
If your home is sold through a foreclosure auction and the buyer gets full ownership to the property, there are chances that you may be evicted from the house. Read through the sections below to know about the various aspects of a foreclosure eviction.
Foreclosure eviction process - How long can you occupy the home?
The amount of time you can stay in the property after foreclosure varies from one state to another. It also depends on how long it takes to complete the foreclosure. Generally, the owner is first served with summons. At the hearing, if the owner is proved to be in default, the judge grants Summary Judgment and sets up a foreclosure auction. The court then issues a Certificate of Title to the new owner 10 days after the foreclosure sale. Once the new owner receives the Certificate of Title, he can start the eviction process and obtain an Order of Possession in about 2 weeks time. He can then serve you a 3-day Notice to Quit and have the Sheriff evict you from the property, unless you are entitled to a redemption period under the state laws.
Does the homeowner have a right to get back the property?
There are some states which offer a redemption period to the homeowners who wish to keep the property, but do not currently have the means to stop foreclosure. It gives them more time, during which they can buy back or redeem the property on payment of the mortgage dues plus the foreclosure costs. State laws regarding the redemption period vary. Some states provide lengthy redemption period (about 1 year), while others provide a short time period (approximately 6 months). However, a redemption period is allowed only in case of a judicial foreclosure.
Renter eviction after foreclosure - Is it possible?
In case you are renting a property and that property goes into foreclosure due to default by the owner, you do have certain rights. As long as you do not violate the terms of the lease agreement and you continue paying your rent, you cannot be asked to vacate the property until the lease term is over.
Certain states like Washington also have a Tenant Opportunity to Purchase Act (TOPA). Under this Act, if the owner is planning to sell the property, he has to offer the renter the right to purchase the property. Similarly in a foreclosure sale, if the lender purchases the property, he must provide the renter with a proper TOPA notice. However, if a third party buys the property, the renter is not entitled to a TOPA notice.
Under the Protecting Tenants at Foreclosure Act of 2009 (federal law foreclosure eviction), the purchaser of the property can ask the renter to leave the property if he intends to occupy the home as primary residence. But the new owner has to provide the tenant with at least a 90-day timeline to vacate the property.
Certain states like Washington also have a Tenant Opportunity to Purchase Act (TOPA). Under this Act, if the owner is planning to sell the property, he has to offer the renter the right to purchase the property. Similarly in a foreclosure sale, if the lender purchases the property, he must provide the renter with a proper TOPA notice. However, if a third party buys the property, the renter is not entitled to a TOPA notice.
Under the Protecting Tenants at Foreclosure Act of 2009 (federal law foreclosure eviction), the purchaser of the property can ask the renter to leave the property if he intends to occupy the home as primary residence. But the new owner has to provide the tenant with at least a 90-day timeline to vacate the property.
What is constructive eviction?
Tenants often ask "What is constructive eviction foreclosure?" Well, this is a situation where the owner might not formally ask the tenant to leave the property, but he can indirectly force the tenant to vacate the property (e.g. the owner turns off electricity, water or he changes locks, etc.). In such a situation the tenant can sue the owner on the basis that he was forced to leave the house through constructive eviction.
Related Readings
After the foreclosure sale on the 18th of March, how long will I have before I have to remove my possesions and vacate the property? The home is in Tampa, Florida.
Thank you.
Henry Murray
Thank you.
Henry Murray
Hi ana!
Welcome to forums!
As far as I know, the lender will give you 3 days time period to move out of the property once the foreclosure sale is over. If you need some more time to move out of the property, then you will have to request the lender for the same.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, the lender will give you 3 days time period to move out of the property once the foreclosure sale is over. If you need some more time to move out of the property, then you will have to request the lender for the same.
Feel free to ask if you've further queries.
Sussane
I found out in the newspaper that the house I rent is going up for auction in 2 weeks. The landlord is out of state and has not mentioned it. How long after the auction will I have to move? I dont even know if the bank knows the house was rented to me...What should I do now?
Help in Virginia!!
Help in Virginia!!
Hi LML,
The lender will send you an eviction notice. The date within which you have to leave the property will be mentioned in that notice. You will have to leave the property within that time period. If you want some extra time to leave the property, then you will have to inform the lender about the same.
Take care.
The lender will send you an eviction notice. The date within which you have to leave the property will be mentioned in that notice. You will have to leave the property within that time period. If you want some extra time to leave the property, then you will have to inform the lender about the same.
Take care.
House is scheduled for auction on June 1. How long do I have a renter to relocate? My landlord said it would be 90 days from the sale date - is that correct?
Welcome Diamond,
The lender will send you an eviction notice after the property is sold off at a foreclosure auction. The eviction notice will mention the time period within which you will have to move out of the property. You will have to check out that notice in order to know the time period.
The lender will send you an eviction notice after the property is sold off at a foreclosure auction. The eviction notice will mention the time period within which you will have to move out of the property. You will have to check out that notice in order to know the time period.
My house was sold in a foreclosure sale on May 4, 2010. In the state of Texas. I have not recieved any notice to vacate the property. How many days do I have once I recieve notice do I have?
Hi mark!
Welcome to forums!
The lender normally sends a Notice to Evacuate the property. The time limit to leave the property will be mentioned in that notice. Generally, the lenders give 3 days time to the borrowers to leave the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lender normally sends a Notice to Evacuate the property. The time limit to leave the property will be mentioned in that notice. Generally, the lenders give 3 days time to the borrowers to leave the property.
Feel free to ask if you've further queries.
Sussane
i have been to court for an eviction was given ten days but have not received those papers land lord has given me a week to come up with the money but i wanna know why i havent received those papers from the court i know their is alot a stuff that does not make sense?
Welcome mileymp,
You should contact your landlord in this regard and inform him that you haven't received the papers. Unless you receive the papers, I don't think you should leave the property.
You should contact your landlord in this regard and inform him that you haven't received the papers. Unless you receive the papers, I don't think you should leave the property.
I live in Maui, HI. my lease is up in July 31. The owner did a short sale and sold the house. The new owners take over June 15. I found a place and moved out starting June 1. I also found someone to take over the lease starting July 1 and he is signing for 2 years.
The old owner (my landlord) wants me to pay for June but he wont be the owner of the house starting June 15. Do I need to pay?
In addition the other person who was on the lease moved off island and he did not ask her to her to find someone to take over the lease.
Thank you for your help!
The old owner (my landlord) wants me to pay for June but he wont be the owner of the house starting June 15. Do I need to pay?
In addition the other person who was on the lease moved off island and he did not ask her to her to find someone to take over the lease.
Thank you for your help!
If you want to make the payments, then it's better to do so to the actual owner of the property.
How long does my family have to collect everything and move? Sale date is June 4th, can I post a bond to the trustee at sale, and pay all fees due within one year? Can I file anything in court while waiting for a bankruptcy to engage? I have no options with mortgage co. or trustee, they are unwilling to even grant a postponement of sale with an escrow payment.
Welcome anon,
You can file a bankruptcy case and try to save the property. You can contact a bankruptcy attorney and check out whether or not Chapter 13 filing will be a good option for you. If you go for Chapter 13, you will get a payment plan which will help you in paying off the dues within 3-5 years and will help you in saving the property.
You can file a bankruptcy case and try to save the property. You can contact a bankruptcy attorney and check out whether or not Chapter 13 filing will be a good option for you. If you go for Chapter 13, you will get a payment plan which will help you in paying off the dues within 3-5 years and will help you in saving the property.
I live in Florida and I am not the previous owner of the property. I've occupied the property for the last couple of months but I didn't sign a contract and wasn't aware of the foreclosure process, my child and I don't have a place to go right now.
A friend tells me that there's a Federal law that will help me get a 90 day period until I can re-locate. Please advise which and how can use this law in this situation.
Thank You!!
A friend tells me that there's a Federal law that will help me get a 90 day period until I can re-locate. Please advise which and how can use this law in this situation.
Thank You!!
Hi Jenny!
Welcome to forums!
As you haven't signed any contract with the landlord, it will be difficult for you to take advantage of the 90 day period. However, I would still suggest you to contact the lender and request for a certain period of time which will help you in finding a property for yourself.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you haven't signed any contract with the landlord, it will be difficult for you to take advantage of the 90 day period. However, I would still suggest you to contact the lender and request for a certain period of time which will help you in finding a property for yourself.
Feel free to ask if you've further queries.
Sussane