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Tenant rights in Pre-foreclosure sale of rental property
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2010 Feb 7, 3:01am 1,219 views 1 comment
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HousingWatcher
2010 Apr 26, 8:28am
HousingWatcher
2010 Apr 26, 8:28am
The law says the new owner must honor the lease. It does not matter whether such a provision is in the lease. The law always trumps a lease.
I have 18 months left on a 3 year bona fide lease on a home in Colorado. Owner wants to sell the house prior to foreclosure sale date. Lease agreement does not require us to show the property prior to 30 days before end of lease, and there is no reference to sale/transfer. Selling agent will include comment "subect to current lease" in marketing and purchase contract and tells us any buyer must honor our lease to end of term. I am looking for the legal references confirming that before we agree to allow showing the property.
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