New Law to Protect Tenants in Current Foreclousre Crisis

Tenants are currently being affected by the current Foreclosure crisis as well ... being forced out of homes, finding their own credit history damaged with "eviction" notices ... so California Governor Arnold Schwarzenegger recently signed SB1149  enabling Tenants to contest illegal evictions and imposing new requirements for Banks to follow when removing Tenants from Foreclosures. 

Post-Foreclosure Protection for Tenants: Commencing January 1, 2011, a notice to terminate a residential tenant who remains after a foreclosure sale must generally include a statutory notice of the tenant's rights.  This requirement, which sunsets on January 1, 2013, applies to an immediate successor-in-interest for one year after a foreclosure sale.  The tenant's rights must be on a separate cover sheet or, for a 90-day termination, incorporated into the notice to terminate.  Another provision of this bill protects a residential tenant's credit by generally prohibiting the court clerk from revealing unlawful detainer court records unless the plaintiff prevails at trial.  Senate Bill 1149.


Realegal® is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 175,000 REALTORS® statewide. 

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LeeAnn Bell, REALTOR(R) ... 661-309-2364
LeeAnnRealtor@yahoo.com

DRE License #01260650

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