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
we are renters with no active lease house going for sheirff sale end of month .....how long before we would be put out
Welcome shannonwl,
Once the foreclosure sale is over, you'll receive an eviction notice which will mention the time period to leave the property. You'll have to leave the property within that time period.
Hi Guest,
As I've mentioned earlier, after the sheriff's sale, you will receive an eviction notice mentioning the time period to leave the property.
Once the foreclosure sale is over, you'll receive an eviction notice which will mention the time period to leave the property. You'll have to leave the property within that time period.
Hi Guest,
As I've mentioned earlier, after the sheriff's sale, you will receive an eviction notice mentioning the time period to leave the property.
In New Mexico, how many days after the sale of Foreclosure date is set do you have to vacate the property... Do you have months or days, and does filing "bankruptcy" slow the process down... if not... what will???
When I received letter notice of foreclosures and February 18, 2011 have sell at public. When I have to move out. I dont know the Tennessee law
Hi bindee,
After the foreclosure, you'll receive an eviction notice from your lender. This notice will mention the time period within which you'll have to leave the property.
To venteava,
You will have to leave the property once the foreclosure sale is over. You can leave the property immediately or else the lender will send you an eviction notice mentioning the time period to leave it.
After the foreclosure, you'll receive an eviction notice from your lender. This notice will mention the time period within which you'll have to leave the property.
To venteava,
You will have to leave the property once the foreclosure sale is over. You can leave the property immediately or else the lender will send you an eviction notice mentioning the time period to leave it.
my dad and moms names are on the deed to the property he died twelve years ago and she moved out about the same time she no longer wanted the house or wanted to put it in my name i have raised my 4 children in this house for the past nine years now she wants to sell it and kick us out can i stop her
As she is one of the owners of the property, she can sell off the property. Your name is not mentioned on the property deed. In such a situation, you won't be able to stop her from selling the house.
In the State of GA, how long do I have to vacate my house after foreclouser?
my house is in foreclosure their was an auction date asc wellsfargo tell me to move out i do at a cost of thousands for some reason auction does not happen asc wells fargo calls me asks why i moved out tells me tomove back and they would modify my loan with one of those obama programs after ayear of faxing refaxing several sale dates postponements finally their is a modification done durring this prossess many prossessors tell me dont worry we willmake this happen however they submitt one postponement to early and twice to late all the while telling me not to worry today is my sale date all they say is sorry do i have any legal action i can take
Welcome Guest,
After a foreclosure, you'll get an eviction notice from the lender. This notice will mention the time period within which you'll have to leave the property.
To Tj,
I can understand that you're facing a tough situation. You should contact an attorney and take his suggestions in order to find out what legal actions you can take against the lender.
After a foreclosure, you'll get an eviction notice from the lender. This notice will mention the time period within which you'll have to leave the property.
To Tj,
I can understand that you're facing a tough situation. You should contact an attorney and take his suggestions in order to find out what legal actions you can take against the lender.
our home was foreclosed on May 4, 2010 in the state of ga. We moved out May 31, 2010. I recently got a credit report and it stated that we were "evicted" opposed to saying "foreclosure." Now it is almost impossible for us to find a decent place to rent because it says eviction. We left the keys in the house under the instruction of the foreclosure attorney, removed all belongings and told them we moved. Now the bank is giving us the run around. How is this possible and what can we do?
Hi Georgia,
You can contact the lender and ask him to update the information in your credit report as foreclosure and not as eviction. This may help you in renting a property for the time being.
Thanks
You can contact the lender and ask him to update the information in your credit report as foreclosure and not as eviction. This may help you in renting a property for the time being.
Thanks
Thanks Sussane for your reply to my earlier question. Now, almost 3 weeks later and not one sign that anything is happening at this foreclosed house.
How long should it take to get evicted after the redemption period?
Isn't it a mistake for the former owner to wait for eviction?
Is there any reason the bank would just sit on this property and let them stay there for an extended time?
Where could I look (public records) for an eviction process?
Thanks,
Jumpin' Joe Schmidlap
How long should it take to get evicted after the redemption period?
Isn't it a mistake for the former owner to wait for eviction?
Is there any reason the bank would just sit on this property and let them stay there for an extended time?
Where could I look (public records) for an eviction process?
Thanks,
Jumpin' Joe Schmidlap
We filed chapter 7 back in January of 2010 in Washington State. Our eviction summons for our house finally got sent February 2, 2011. We are NOT fighting this and we had moved out of our home back in November 2010. Do we need to do anything or contact anyone if we are not contesting the eviction? The paperwork tells us what to do if we are fighting the eviction but we are not. Thank you.
Hi Joe,
Your lender will send you an eviction letter mentioning the time period within which you'll have to leave the property. There is no reason to think that the bank would just sit on this property and let them stay there for an extended time.
Welcome Terri,
You can formally inform the lender that you're not contesting the eviction by writing a letter.
Your lender will send you an eviction letter mentioning the time period within which you'll have to leave the property. There is no reason to think that the bank would just sit on this property and let them stay there for an extended time.
Welcome Terri,
You can formally inform the lender that you're not contesting the eviction by writing a letter.