Legal Question in Real Estate Law in Missouri

Bank forecloses on landlord...I'm the renter...

Hello,

Thank you for offering such a great service. I have been

living in my rented apt., (one unit), in a triplex (house),

for 2 years. I have always paid my rent on time and have

never had any problems with the landlord.

Unfortunately, 2 days ago (12/23/02), my landlord let

me know that he just signed the house over to the bank, due

to a bankruptcy. He told me that I a will have to leave

soon.

I love living in this triplex and I was wandering if

there is anything (besides buying the property), that I

could do or should know, that would allow me to stay in this

triplex. Is there anything that typically happens in

situations like this one.

I will be deeply grateful for any insight you could

provide. Thank you.

Sincerely,

David


Asked on 12/25/02, 8:52 am

1 Answer from Attorneys
Mark Reiter

Re: Bank forecloses on landlord...I'm the renter...

You should review the written lease you signed, as it may contain language that governs this situation. I would also find out from the landlord what bank holds the mortgage on the property and contact the bank to find out what are its intentions. Absent written notice indicating otherwise, you should continue to pay rent to your landlord as required under the lease. If the landlord does have a basis for terminating the lease early, it is likely that notice to the tenants regarding such termination would need to be in writing. Again, a review of your lease will provide more information as to what you may/should do.

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Answered on 12/26/02, 9:14 am


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