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Protection for Renter of Foreclosure Homes

By
Real Estate Agent with Renaissance Realty Group of Keller Williams Atlanta Partners

Protecting Tenants at Foreclosure Act of 2009 

The Helping Families Save Their Homes Act of 2009 signed into law on Wednesday, May 20th, 2009 (Pub. L. 111-22) provides a 90-day  notice requirement and additional protections for tenants in foreclosed properties. 

Below you will find the major provisions outlined under Title VII, Protecting Tenants at Foreclosure Act of 2009.

 - During the term of the lease, the tenant has a right to remain in the unit and cannot be evicted, except for actions that constitute good cause.

- If the lease ends in less than 90 days, the new owner may not evict the tenant without giving the tenant at a minimum 90 days notice.

- At the end of the term of the lease, the new owner may terminate the tenancy if the new owner provides a 90-day notice.

- The new owner may terminate the tenancy if the owner will occupy the unit as a primary residence, and has provided the tenant a notice to vacate at least 90 days before the effective date of such notice. This is the only exception to the rule that the tenant may not be evicted during the term of the lease.

These provisions expire on December 31, 2012.

Posted by

If you or someone you know is thinking of buying or selling a home have them give me a call .. we will get it done ...right 

Eric Reid 

Associate Broker

Keller Williams Atlatna Partners
Team Leader 
Renaissance Realty Group

Comments(2)

Katiejo Franks
Real Estate and Beyond, LLC - Scottsdale, AZ

I really enjoyed your post tonight. Thanks for sharing tonight.

Jun 29, 2009 02:55 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Eric - To some degree, this was definitely needed because so many tenants were being punished because the rent they were sending every month, on time, to the landlord was not being used to pay the mortgage.

However, on the flip side, so many first time buyers are having to deal with getting uncooperative tenants (who are long past their 90-day notice and are no longer paying rent) out of the homes that they have just purchased. 

Jul 03, 2009 06:05 PM