My Landlord Lost Ownership Of My Building And Has Not ...

Q: My landlord lost ownership of the property I live in due to foreclosure. She has not transferred my deposit to the new owner nor has she returned it to me. Does she have to refund my deposit and if she doesn?t, what steps can I take to get it? I would really rather not go through the hassle of small claims court if possible. Thank you for your time.
?Toki, Glendale, CA

A: You do not state whether the house sold to a third party at auction or whether the bank owns it. Regardless, the new owner/bank is responsible for all terms in your lease. People buying at foreclosure auctions and the banks know this. Do you have a written lease and a receipt for your deposit for proof? If the lease is not month-to-month, you can stay in the home until the lease term ends. If tenancy is month-to-month, they must give you adequate notice as provided by law if they want you out. At move-out, you are entitled to your deposit within 21 days, provided the property condition warrants a full return of deposit. You should look to the new owner for money rightfully owed to you. Your old landlady probably does not have it. Don?t waste your time. Most likely you will be offered CASH FOR KEYS by the new owners. It will cover your deposit as well as moving expenses.
Sylvia Jonathan is a Realtor? at Coldwell Banker Platinum Properties in Irvine, CA

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Related posts:

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3. My Landlord Wants To Sell My House, What Rights Do I Have?
4. Can a Realtor Lease Property Without Disclosing That The Building Is In Foreclosure?
5. The Home I Rent Is Going Into Foreclosure, What Are My Rights?

Source: http://www.realtor.com/blogs/2012/08/08/my-landlord-lost-ownership-of-my-building-and-has-not-transferred-my-deposit-to-the-new-owner/

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