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Tenants Have New Rights After Foreclosure
The new Just Cause Eviction Law says:
- If you are a bona fide tenant you can stay in your building while the bank owns it, unless the bank has just cause to evict you;
- The bank can evict you only if you violate standard tenancy rules, or if the bank has a signed contract to sell the property to another buyer;
- The bank cannot pressure you into leaving or do anything else to force you out;
- The bank must notify you that you have the right to a court hearing before eviction;
- The bank must post and send you a notice telling you how to contact the bank and the person in charge of repairs and management of your building.
Who is a “bona fide” tenant?
- If you moved in before the foreclosure, and
- If your landlord before foreclosure was not your husband, wife, child or parent,
you are probably a bona fide tenant and the Just Cause Eviction Law protects you – even if you do not have a lease.
This is only a summary of tenants’ rights after foreclosure under the Just Cause Eviction Law and other laws. For complete information call Springfield NHS at (413) 739-4737.