Legal Question in Real Estate Law in New York

I am currently renting an apartment from a homeowner who is in Foreclosure. Am still required to pay her rent knowing she's losing her house? I have 4 children and a dog and will have to find another apt if this house is sold to the bank. How do I handle a situation like this?

Asked on 4/10/13, 7:18 am

1 Answer from Attorneys

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In some cases, you may be protected as a renter. It depends on the terms of your lease. There was legislation passed to protect tenants in your position when the mortgage crisis occurred so your situation may not be as dire as you would think.

As a real estate attorney, I would urge you to contact a real estate attorney so that they can tell you where you stand. It's impossible to give specific advice with these limited facts but this article may help you to understand your rights a bit better:

http://www.nolo.com/legal-encyclopedia/renters-foreclosure-what-are-their-30064.html

Hope this helps.

Cheers,

Christopher Moye, Esq.

Read more
4/14/13, 9:37 am

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