When a lender brings a foreclosure action against a property owner in Florida, that lawsuit covers anyone and everyone who might also have a claim to the property. If you are living in a home that is being foreclosed on, the bank may include you as a defendant not because you will owe them any money or may be pursued for any damages, but because the bank will want a clean and clear title on the property, and you as a tenant may be a complication for them. The first thing you want to do is make sure you continue paying your rent. You should pay the property owner until the foreclosure is finalized. Once the foreclosure is complete, if you are still living in the property you might be instructed to make rental payments to the court.
Being served or included in a foreclosure lawsuit when you do not even own the property can be frightening and confusing. Do not panic. If you are not sure what you should do, contact a real estate attorney or a lawyer who is experienced in foreclosures. You will not be evicted from the property if you continue making rental payments. There is a law in place to protect tenants during a foreclosure. If you are under a lease agreement, you can finish out your lease. If you are renting outside of a lease agreement, you will have 90 days to find a new place to live. There is no need to panic about the lawsuit. Once you are no longer a tenant on the property, you will be dropped from it and it will remain a legal matter between the property owner and the lender. Stephen K. Hachey, a Florida real estate attorney, can help you navigate this process. Contact our offices at 866-200-4646.
This article is for general informational purposes only and does not establish an attorney-client relationship. Please contact a licensed attorney in your state of residence. For more information on our services, please visit our website at www.floridarealestatelawyer.org/
This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.