With the large number of investment homes being foreclosed upon, it shouldn’t come as a surprise that many tenants are being asked to leave. What might surprise you is that they don’t have to go. A lease supersedes a sale. Meaning that it transfers with the property to the new owner.
Based on the Protecting Tenants at Foreclosure Act, which Congress passed last May, as long the tenant has a valid lease and proof of regular payments, they cannot be forced to leave. Even tenants on a month-to-month lease... read more