Q: Renting condo. Property in foreclosure. Owner filing bankruptcy. Do I still pay rent? Worried about security deposit.
Owner has not told me. Looked on clerk of court records. Foreclosure started in sept. I have 4 months left in lease. What are my rights? Do I still pay him rent? Worried about getting my security deposit back as well. There has been no communication with him regarding this.
Nothing you have said here changes the law controlling leased residential property. You still owe rent to the owner, and should not skip any payments during the next 4 months.
Unless the owner--or some new owner--offers you a new written lease when your lease expires you will become a "tenant at suffrage" (month-to-month) and can be evicted with 15 days notice.
1. Let more time go by--but also be looking around for possible new digs.
2. If someone new shows up asking for the rent, make sure they are not stealing it.
3. This situation will change because it is a big mess.
4. If the landlord goes bankrupt you will need a lawyer to help you get your security deposit back.
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