Jul
2
1 year lease on a foreclosure home and only 4 months into the lease, what happens to security deposit?
Filed Under Foreclosures
Gabriela A asked:
I basically know the technicalities of my situation. I know my options, but what no has been able to tell me is what happens with the security deposit? Who has to give it back? The new owner or my current landlord?
[chapter 7 bankruptcy]http://rexkaufman6721.blog.com/2009/05/08/does-chapter-7-bankruptcy-differ-from-chpater-13/
I basically know the technicalities of my situation. I know my options, but what no has been able to tell me is what happens with the security deposit? Who has to give it back? The new owner or my current landlord?
[chapter 7 bankruptcy]http://rexkaufman6721.blog.com/2009/05/08/does-chapter-7-bankruptcy-differ-from-chpater-13/
Comments
One Response to “1 year lease on a foreclosure home and only 4 months into the lease, what happens to security deposit?”
[chapter 7 bankruptcy info]http://rexkaufman6721.livejournal.com/2220.html
You’ve probably lost your deposit. If the mortgagee (lender) acquires the property at public auction (in most states) then your lease is broken. If someone else buys the property, you’re still out the deposit because the new owner isn’t holding it and it’s doubtful the current owner will refund it.
realtor.sailor