A new federal law called “The Tenants in Foreclosure Act” can help. The Act protects tenants who are renting property that changes ownership through a foreclosure sale. In the past, a new owner could evict existing tenants within weeks. The Tenants in Foreclosure Act now requires the new owner to honor existing leases unless the new owner will use the property as a residence.
For example, if a tenant has 10 months left on a lease the new owner may have to honor all 10 months. However, if the new owner plans to live in the property the tenant must have 90 days notice to vacate the property.
Lawyers at several non-profit law offices want people to be aware of their rights so they can protect themselves and their families. If you have any questions please feel free to contact:
The Atlanta Volunteer Lawyers Foundation: (404) 521-0790
Atlanta Legal Aid Society: (404) 521-0777
Georgia Law Center for the Homeless: (404) 681-0680.
There is more information about this posted on the Atlanta Volunteer Lawyers Foundation at avlf.org.
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