When does a tenant have the right to stay in a foreclosed property?

If you are a renter who is currently renting a property that is beginning to be foreclosed upon or that is already in the foreclosure process, what rights do you have to continue to stay in the property, and under what circumstances can you continue to live there while you look for a new place to live?  This situation has been occurring more and more frequently in today’s world, as foreclosures have risen.  Luckily, there have been recent legal moves taken to prevent renters who, through no fault of their own, find themselves living in a foreclosed property and who do not want to be evicted immediately.  As such, it is important to know the new rules for tenants and foreclosed properties

• The main rights for tenants who are living in a property that is being foreclosed come from the “Protection of Tenants at Foreclosure Act of 2009.”  
• This act states that tenants who are living in a foreclosed property can continue to live in the property for the duration of their original lease while they look for a new place to live.  
• If the tenant did not have a lease and was staying in the property month to month, he is given ninety days to live on the property while he finds a new home. He cannot be evicted immediately.

If your rights as a tenant are infringed upon, you need to get help. An experienced lawyer can assist you in making sure you are able to stay in your home for as long as the law permits you to.