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I have been renting a condo in California since August. I received a Notice of Trustee's Sale posted on my door in the beginning of November. My landlord assured me there is nothing to worry about at the time. Just after I paid the rent for December, I received a Notice to Quit from a law firm on my door and that I have 60 days to vacate the condo. My landlord still claims he owns the condo. I received a notice from a real estate broker claiming to represent the bank, he is trying to make a Cash for Keys deal. I started looking for a new place to live, but I do not know who to trust. How can I find out if my landlord still owns the condo or it is foreclosed on? I do not want to break my lease contract. If the bank really owns the condo, is the security deposit transferred to the bank? If the landlord does not own the condo, can I demand to get my security deposit and the December's rent while I still occupy the condo? I kind of need the money to pay for a new security deposit I would really appreciate your advice. Thanks a lot in advance,
The previous poster is on the money but I wanted to note one thing. You landlord isn't lying (sort of). He isn't being forclosed on; he has apparently FILED BANKRUPTCY and the bankruptcy courts (the Trustee) is forcing the sale of the business property (the condo). The fortunate thing is that this stops the foreclosure process albeit temporarily. Chances are you are going to become what is known as a creditor. In some states the deposit money is supposed to go in a bank account separate from the business account Whitehall is supposed to be accounted for. If someone is filing BK then they likely burned through your deposit illegally or otherwise. Talk to your landlord and follow-up with a certified letter and copies of the information provided. Talk to the law firm and the bank and plan to be out come the end of January. Contact the bankruptcy office and ask to speak with the trustee and see if they will give you a bankruptcy case number; you are likely going to be a creditor for your deposit. The good news is that you can likely make an agreement with the law firm and your landlord to leave in January and not face eviction from either. This will allow you to break your lease, not have a court filing against you for eviction, and leave the premisis using the last months deposit, which is likely gone, as "rent".
In these circumstances, I would try to make a deal with the bank and the real estate broker, then find a new place to live and vacate the condo.. I am not sure (maybe somebody else might help here) but you might sue your landlord in a Small Claims Court to get back your deposit and the last month's rent... You might be able to see if the property is foreclosed or not from the public records.
Your landlord is full of chit. He's not paying the mortgage and the bank will be throwing you out very soon. However, this does not excuse you from paying rent for living in the house...it just means that your landlord is a dirtbag. I would talk to a lawyer asap who is familiar with the landlord/tenant laws in your state. I would then find a new place and move out before you come home and find a padlock on the door. The reason to talk to an attorney is because you should get your security deposit refunded after breaking the lease because your landlord is breaching his end of the lease agreement by going into foreclosure.
You have 60 days to vacate, it's that simple. Do not pay the rent again. You have no choice no options. You must move within the 60 days. And I wouldn't wait, if you leave things behind, most likely you will not get them back nor be compensated for them.
You do are conscious of it quite is the worst time in a pair of decade to sell residences, precise? I have not have been given any theory what you regarded up on the courthouse. it form of sounds such as you do now no longer the two! consistent with danger you and your father could desire to develop into quite extra effective conscious of this project until finally now sinking your money into it. besides, the carry close in equity is the choose who sales foreclosure on the courthouse. Many have their own information superhighway content the area you would be able to look up destiny sales counsel. Up until finally the date of the sale the human beings can in spite of the undeniable fact that artwork out arrangements with the financial enterprise enterprise and a very good style of in spite of the undeniable fact that stay of their residences until finally after the sale on a similar time as the sheriff shows up on their doorstep. you would be able to speak with a realtor or seek for MLS listings online to discover low-fee foreclosed residences (you're in a position to seek for through those and common sales in spite of the undeniable fact that) or pay one in each and every of those web pages to discover foreclosure, which i does now no longer do. Google HUD residences or REO residences to discover government and economic enterprise enterprise owned residences. you're in a position to desire a decision abstractor to seek for the call to ascertain if the homes have liens or decrease lower back taxes. you are able to desire to do it your self in case you had some adventure to artwork out in case you like to purchase the homestead yet you're in a position to choose the call insured at maximum suitable besides, meaning an insured professional will could desire to do it indoors the precise.