What are renters' rights in foreclosure cases?

by Lily Leung, UT San Diego
Friday, July 6th, 2012

Question: The house I was renting went to foreclosure. We have a lease with six months left, but the bank told us we have to move out. We want to stay through our lease. They said our lease is no good anymore. Can we stay?

Kellman: Residential tenants caught up in the landlord’s foreclosure problems sometimes face some difficult and confusing situations. State law had an eviction-notice statute in place for many years giving tenants 30-days notice to vacate after a foreclosure sale. Then it all changed with an avalanche of foreclosures following so many speculative property purchases and high-risk loans coupled with an impacted economy.