Monday, February 13, 2017
TENANTS LIVING IN PREMISES THAT ARE BEING FORECLOSED
This is from the New York Courts website:
"When the plaintiff starts a foreclosure case against the owner of your home, the law says that the plaintiff must tell the tenants within 10 days. You may find out about the case by seeing a notice posted on the door to your building or the plaintiff may give you a copy of the foreclosure Summons and Complaint. Do not worry if your name is on the papers. This does not mean that you have to move out. Many things can happen:
•The owner may settle the case and keep the property
•The bank may not be able to prove its case
•The case may take a very long time, often even a year, and you may move before it is over
•The new owner may want to keep you as a tenant
•You may have the right to stay anyway
The point is, you don’t have to do anything right now.
During the foreclosure case, the owner is still in charge of keeping your home or apartment in livable condition and still collects rent and can start a case in Court against you. But, you can’t be evicted without a court order.
Whoever buys the building at a foreclosure sale can’t make you move out right away. The law says that the new owner (or the bank if the bank still owns the building) has rules to follow if the new owner wants to evict you. Whether the new owner wants to evict you or not, you should get a notice from the new owner. After the sale, you have to pay your rent to the new owner."
For more help or information, see https://www.nycourts.gov/courthelp/Homes/foreclosureTenants.shtml
Posted by Jon Michael Probstein at 7:20 AM