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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Shame on NOLO: Posted by JK (the other JK) on April 27, 2010 at 4:37 PM In Reply to: Re: good NOLO link: foreclosure and tenant rights posted by bukzin on April 26, 2010 at 9:26 PM : : This link is up-to date with federal laws and may be helpful to anyone buying at : : foreclosure sale in CA. : : http://www.nolo.com/legal-encyclopedia/article-30064.html : +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : Good info, thanks. : If anyone has more of the same, please post info. Nice of them to post someone's OPINION vs the actual LAW: http://www.fdic.gov/news/news/financial/2009/fil09056a.pdf The key section to pay attention to is section 2b "lease terminable at will under State law". A lease is terminable at will under State Law if the property has been foreclosed on. Bottom line is if a bona fide tenant has a 5 year lease you do NOT have to sit on the property for 5 years. You are required to give them a 90 day notice before filing an unlawful detainer. Follow Ups: "terminable at will" leases Kristine-CA 9:32 PM, 04/27/10 (0) Re: Shame on NOLO: bukzin 7:22 PM, 04/27/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : This link is up-to date with federal laws and may be helpful to anyone buying at : : : foreclosure sale in CA. : : : http://www.nolo.com/legal-encyclopedia/article-30064.html : : +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : Good info, thanks. : : If anyone has more of the same, please post info. : Nice of them to post someone's OPINION vs the actual LAW: : http://www.fdic.gov/news/news/financial/2009/fil09056a.pdf : The key section to pay attention to is section 2b "lease terminable at will under State law". A lease is terminable at will under State Law if the property has been foreclosed on. Bottom line is if a bona fide tenant has a 5 year lease you do NOT have to sit on the property for 5 years. You are required to give them a 90 day notice before filing an unlawful detainer. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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