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Landlord In Foreclosure

If you’re a landlord in foreclosure, make sure you know your rights.

One of the most frequent questions asked by a clients with investment properties in foreclosure is, “My tenant found out that I’m a landlord in foreclosure and is refusing to pay rent, what should I do?” To which my response is invariably, “Send a three day notice immediately and begin the eviction process sooner, rather than later.”

What many landlords are uncertain about, or don’t fully understand, is their right to collect rent while in foreclosure. Florida is a “lien theory” state, which means that a borrower holds title to the property, and the lender places a lien on the property for the amount borrowed. As the landlord/owner of record, your right to occupy and rent your property remains unaffected, for the most part, by its foreclosure status.  This means that as the landlord/property owner, absent a court order directing otherwise, you may absolutely continue to collect rent until the property is sold at auction and a certificate of title is issued to the new purchaser by the clerk of courts. A recent amendment to one of the laws governing foreclosure actions (Fla. Stat. 702.015), which took effect July 1, 2013, does state that for non-owner occupied residences, Plaintiff may request that the court enter an order requiring the payments to be made in the court registry during the pendency of foreclosure proceedings.

The next time your current tenant decides to try and take advantage of your property’s foreclosure status by withholding rent, you can politely inform them that you are entitled to, and will, commence eviction proceedings against them if necessary. If your property is in foreclosure, especially if occupied by a nonpaying tenant, contact the Reyes Law Group for a free consultation, regarding your specific situation.  You deserve a passionate voice to help you fight to defend your property and preserve your rights!
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The RLG Legal Team also include attorneys Carlos J. Reyes – Principal,  Melissa J. Ulloa and the RLG Legal  Support Team to bring you a dedicated, experienced and dynamic legal team to handle your legal needs.

We also assist clients in the areas of: Civil LitigationReal Estate LitigationResidential Purchase & SalesCommercial Acquisitions & SalesResidential Landlord-Tenant LitigationCommercial Landlord-Tenant LitigationShort Sales NegotiationsLoan ModificationsCriminal DefenseCivil Rights ClaimsFamily LawCorporate Work, and Labor & Employment Law.

Call us for a FREE consultation at (954) 369-1993  Se Habla Español.

Visit our firm website ReyesLegal.com and review our credentials.

We are located at 150 S Pine Island Rd #210, Plantation, FL 33324

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The Reyes Law Group BLOG is intended to provide information to firm clients, friends and potential clients about various legal related topics. Nothing in this BLOG should be construed as legal advice or a legal opinion. Readers should not act upon the information contained in this BLOG without seeking the advice of legal counsel.

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Written by Reyes Law Group