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Thank you for the information, can you tell me what your legal question is? Also, who is it that offered you a relocation package, your old landlord, a lender, or documented new owner? The foreclosure has been completed and you have been given a notice of a new owners name or is it just in the process now?
Thank you for your reply, however, I still need the answers to my other questions, which were: Also, who is it that offered you a relocation package, your old landlord, a lender, or documented new owner? The foreclosure has been completed and you have been given a notice of a new owners name or is it just in the process now?
Thank you for your response, that was helpful. To answer your questions first. Although there was temporarily a Federal law that required that tenants in foreclosed homes to be given at least 90 days to move from a property once a new owner took legal possession of the property, that law has now expired. Some states enacted a similar law after that Federal law expired. Idaho though is not one of those states. That means that there are no special protections under Idaho law for tenants in foreclosure situations. Therefore, the new owners are merely required to follow regular Idaho landlord tenant law. You can see the law in regards ***** ***** etc, by gong to the following link: http://www.ag.idaho.gov/publications/consumer/LandlordTenant.pdf
In essence, if you have a month to month tenancy, the landlord (or you) can terminate the tenancy with one month's written notice of termination. There need be no reason for the termination by either party. So, that means that the bank/owner can terminate any time, with the 30 days written notice, just like other landlords. Unless you can get them to enter into a longer lease, which is doubtful since they will be trying to sell the house again, you might consider taking the cash for keys they offered you if that offer is still open. That though is up to you.
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If you had a one year written lease, then that is enforceable against the new owner/bank. In other words, they have to honor it as long as you are paying them rent. The bank will definitely want your rent as long as they own the property. My understanding from your initial post though was that you had a month to month lease. That is why I discussed the notice requirements for month to month. Sorry for the confusion.
You're welcome. Again though, as long as you have a written lease, it is enforceable. Best to you.