DO YOU KNOW TENANTS HAVE RIGHTS DURING FORECLOSURE?

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I wanted to share this law that many residential tenants with or without leases may not be aware of: NOTICE TO RESIDENTIAL TENANTS OF RIGHTS DURING FORECLOSURE

APPENDIX XII-K ADOPTED NOVEMBER 17, 2009

UNTIL OWNERSHIP F THE PROPERTY CHANGES OR YOU ARE OTHERWISE INFORMED BY THE COURT OR THE MORTGAGE HOLDER, YOU SHOULD CONTINUE TO PAY RENT TO THE LANDLORD OR TO A RENT RECEIVER, IF ONE IS APPOINTED BY THE COURT. YOU SHOULD KEEP RECEIPTS OR CANCELED CHECKS OF YOUR RENT PAYMENTS. IF YOU ARE NOT SURE HOW OR WHERE TO PAY RENT, SAVE YOUR RENT MONEY SO THAT YOU WILL HAVE IT WHEN THE OWNER DEMANDS IT. NONPAYMENT OF RENT IS GROUNDS FOR EVICTION.

FORECLOSURE ALONE IS GENERALLY NOT GROUNDS TO REMOVE A BONA FIDE RESIDENTIAL TENANT. TENANTS WHO WANT TO STAY IN THEIR HOMES CAN BE REMOVED ONLY THROUGH A COURT PROCESS. WITH LIMITED EXCEPTIONS, THE NEW JERSEY ‘ANTI-EVICTION ACT’ PROTECTS RESIDENTIAL TENANTS’ RIGHTS TO REMAIN IN THEIR HOME. THIS LAW INCLUDES PROTECTION FOR TENANTS WHO DO NOT HAVE WRITTEN LEASES.

IT IS UNLAWFUL FOR ANYONE TO TRY TO FORCE YOU TO LEAVE YOUR HOME OUTSIDE THE COURT PROCESS, INCLUDING BY SHUTTING OFF UTILITIES OR FAILING TO MAINTAIN THE PREMISES.

So be advised that you have protection. Share this with anyone who may be worried or asking. This will help them tremendously.

6 thoughts on “DO YOU KNOW TENANTS HAVE RIGHTS DURING FORECLOSURE?

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