Q: Will i qualify for a bana fide lease in nj if..
My family and i moved into a town house in nj back in july. My landlord as of now no longer owns the property it was forclosed and the bank owns it. The sheriffs sale was aug. 24 but i guess noone bought it and now the bank owns it as of sometime in sep. We received a notice from the banks lawyer on sept.29 stating that the bank owns it and we have to reply in 10 days to see if we qualify as a bona fide tenant and have a bona fide lease. What should i do and will i qualify for either one? On our lease it also states that we are subordinate to the mortgage does that stop us from qualifying for any reason? Our landlord just sent in bankruptcy paper work again will that save us or should we no longer worry about our landlord and deal with the rights we have?? Please help us!! Also rent is up to date and we have a one year lease. Thank you.
A: You should sit down with an attorney to go over your rights. It sounds like your former landlord is out of the picture, and you now have the bank as your landlord. You have options.
Successor owners are bound by leases already in effect. If you had a bona fide lease (oral or written) with the previous owner, that should continue with the bank as your landlord.
A more comprehensive answer to that and your other questions would require a review of the lease and the bankruptcy papers. You should see an attorney.
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