Tenant can’t finish unit’s lease

Boardcertified real estate lawyer Gary M. Singer writes about the housing market at SunSentinel.com/business/realestate each Friday. To ask him a question, go to SunSentinel.com/askpro

Q: We are renting an apartment, and the unit is in foreclosure. We keep getting notices in the mail about an upcoming foreclosure sale. We still have seven months left on our lease. Will we have to move out sooner? — Geri

A: Barring a friendly arrangement with the new owner, you won’t be able to finish the entire lease, but you’ll still get at least 30 days before you have to leave. This is a major change from what the law allowed previously.

Tenants in foreclosure used to be able to finish out their leases or get at least 90 days’ notice to move, but that federal law expired at the end of last year and was not renewed. Since then, most states have passed similar statutes to protect tenants from a surprise knock on the door.

Florida recently passed a law that makes the new owner of the property provide a 30-day notice letter. During this time, you’ll still need to pay rent to the new owner or be evicted earlier.

Before signing a lease, check out the landlord and the status of the property. Follow up on any unusual notices that come in the mail after you move in. If it does appear that the property may be sold at a foreclosure auction, take steps to secure any advance rent or security deposit that your landlord is holding. After the property is sold, you may want to discuss a new lease.