Foreclosure Sale and the tenant(s)

New Law!

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For residential real estate only! Effective June 2, House Bill 779 pertains to foreclosure sale and how tenants are protected.

(The Federal-Foreclosure Act of 2009 protecting tenants expired 12/31/2015).

The new Florida law does not require a buyer who purchases at a foreclosure sale to honor any existing lease agreement.

The new law, however, does allow for the buyer to provide a 30 day notice for effectively terminating the lease.

So under the new law, the tenant occupying residential property upon its foreclosure is entitled to remain in the property for 30 days following the date of the delivery of a written 30 day notice of termination.

The new law prescribes a form for the 30 day notice:

  • Establishes requirements for delivery of the notice
  • Authorizes the buyer to apply for a writ of possession if a tenant fails to timely vacate the property
  • Provides exceptions.

See Chapter 83, Part II, Section 83.561, Florida Statues.

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When you hire Recuset Realty- team Doral for your real estate needs, you not only get highly qualified professionals on your side, but also access to information, markets, technology and a team of real estate experts.

You also tap into a global network with vast experience in residential and commercial real estate.

Richard Recuset could be reached at 786-471-5228, Richard@teamDoral.com.

“Si usted no dispone del tiempo y/o no posee los conocimientos, entreguele la propiedad en manos de un Corredor calificado”

*Nothing in this article is intended to solicit listings currently under contract with another broker.  This article offers no legal or tax advise and is for information purposes only.

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