I have been renting a condo in California since August. I received a Notice of Trustee’s Sale posted on my door in the beginning of November. My landlord assured me there is nothing to worry about at the time. Just after I paid the rent for December, I received a Notice to Quit from a law firm on my door and that I have 60 days to vacate the condo. My landlord still claims he owns the condo. I received a notice from a real estate broker claiming to represent the bank, he is trying to make a Cash for Keys deal. I started looking for a new place to live, but I do not know who to trust. How can I find out if my landlord still owns the condo or it is foreclosed on? I do not want to break my lease contract. If the bank really owns the condo, is the security deposit transferred to the bank? If the landlord does not own the condo, can I demand to get my security deposit and the December’s rent while I still occupy the condo? I kind of need the money to pay for a new security deposit
I would really appreciate your advice.
Thanks a lot in advance,
Thanks for all the answers so far.. Is my security deposit transferred to the bank or does it stay with the old landlord? As it has been stated, can I sue my landlord for the security deposit?
Bobby_C said:
Oct 15, 09 at 9:41 amThe previous poster is on the money but I wanted to note one thing.
You landlord isn’t lying (sort of). He isn’t being forclosed on; he has apparently FILED BANKRUPTCY and the bankruptcy courts (the Trustee) is forcing the sale of the business property (the condo). The fortunate thing is that this stops the foreclosure process albeit temporarily.
Chances are you are going to become what is known as a creditor. In some states the deposit money is supposed to go in a bank account separate from the business account OR is supposed to be accounted for. If someone is filing BK then they likely burned through your deposit illegally or otherwise.
Talk to your landlord and follow-up with a certified letter and copies of the information provided. Talk to the law firm and the bank and plan to be out come the end of January. Contact the bankruptcy office and ask to speak with the trustee and see if they will give you a bankruptcy case number; you are likely going to be a creditor for your deposit.
The good news is that you can likely make an agreement with the law firm and your landlord to leave in January and not face eviction from either. This will allow you to break your lease, not have a court filing against you for eviction, and leave the premisis using the last months deposit, which is likely gone, as "rent".
Alterfemego said:
Oct 15, 09 at 2:43 pmYou have 60 days to vacate, it’s that simple. Do not pay the rent again. You have no choice no options. You must move within the 60 days. And I wouldn’t wait, if you leave things behind, most likely you will not get them back nor be compensated for them.
jfinnovations said:
Oct 15, 09 at 5:20 pmYour landlord is full of chit. He’s not paying the mortgage and the bank will be throwing you out very soon. However, this does not excuse you from paying rent for living in the house…it just means that your landlord is a dirtbag. I would talk to a lawyer asap who is familiar with the landlord/tenant laws in your state. I would then find a new place and move out before you come home and find a padlock on the door. The reason to talk to an attorney is because you should get your security deposit refunded after breaking the lease because your landlord is breaching his end of the lease agreement by going into foreclosure.
Ozgul_P said:
Oct 15, 09 at 11:15 pmIn these circumstances, I would try to make a deal with the bank and the real estate broker, then find a new place to live and vacate the condo.. I am not sure (maybe somebody else might help here) but you might sue your landlord in a Small Claims Court to get back your deposit and the last month’s rent… You might be able to see if the property is foreclosed or not from the public records.