Oct 7, 2010

Massachusetts Law About Tenants in Foreclosed Buildings

Thinking about purchasing a foreclosed home/building with a tenant in it?

Well, guess what? As of August 07, 2010 they are considered to be tenants at will and protected by the government! Check it out:

"Section 13A. Upon a foreclosure of residential real property pursuant to chapter 244, a tenant, occupying a dwelling unit under an unexpired term for years or a lease for a definite term in effect at the time of the foreclosure by sale, shall be deemed a tenant at will. Foreclosure shall not affect the tenancy agreement of a tenant whose rental payment is subsidized under state or federal law."

Knowledge is Power!

Read all about Massachusetts Law About Tenants in Foreclosed Buildings

2 comments:

  1. So as a tenant at will who do they pay?
    when does the lease terminate?
    and should the home be sold how do they get kicked out?
    And why couldn't they find suitable housing elsewhere if the property is taken over by the bank?
    what if they're causing damages to the property?
    can't they be evicted?
    this doesn't make sense.
    ist there more info on this?

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  2. You can also give them 30 day notice to get out also if you are the bank! Before you buy any foreclosed home you should make sure that the bank evicts all tenants - start fresh.

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