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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Shame on NOLO: Posted by bukzin on April 27, 2010 at 7:22 PM In Reply to: Shame on NOLO: posted by JK (the other JK) on April 27, 2010 at 4:37 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. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Very interesting. Reads clear enough to me. Just send a copy of that to my UD attorney; we'll see what he has to say. Maybe the local (California) judge as well. Follow Ups: 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. : ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : Very interesting. Reads clear enough to me. : Just send a copy of that to my UD attorney; we'll see : what he has to say. : Maybe the local (California) judge as well. [ 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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