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If the property that I am renting is foreclosed, what are my rights?

Under the Protecting Tenants at Foreclosure Act of 2009, the new owner must honor the full term of the lease if the tenant does not want to move out after the foreclosure. Most tenants with leases are able to keep their leases. If the tenant wants to move, landlords are required to provide month-to-month tenants at least 90 days to relocate. An exception is made for the buyer who intends to live on the property because he/she does not have to honor the lease; however, the buyer/new owner still must provide the tenant with a 90-day notice. Protections under the federal law apply to Section 8 tenants, too. Depending on the situation, tenants may have other legal rights against the landlord.

Foreclosure Rent 

This information applies to Forsyth County in North Carolina.

Source: https://www.cityofws.org/Faq.aspx?TID=51

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