Protecting Tenant Rights In Foreclosure
A new California bill has passed the assembly and is being considered in Senate. Assembly bill 2586 addresses the situation of renters facing foreclosure due to the financial problems of their landlords. Bob Hunt in Realty Times cites a study that indicates 20%-25% of residential foreclosures involve rental properties. Renters now frequently find themselves without their security deposits and scrambling to find another place to live. Here’s some of the key points of AB 2586:
Under existing law a landlord may not attempt to terminate a tenancy by taking such actions as changing the locks or stopping utility services. By making it clear that a successor in interest who acquires a rental property through foreclosure is a landlord for purposes of the law, AB 2586 would provide a legal basis for preventing such harassment activities and/or for collecting damages should they occur.
If a landlord […]
Original post by twist
