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Tina, Lawyer
Category: Real Estate Law
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Experience:  17 years of legal experience including real estate law.
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I am currently renting a home and have a 12 month lease

Customer Question

I am currently renting a home and have a 12 month lease agreement (I am in month 1). I recently received a notification the home is in foreclosure as a result of the property owner's default.
Am I obligated to continue to adhere to the lease agreement? If I terminate the lease, do I forfeit my security deposit?
Note: The home is scheduled for auction September 1, 2015
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.
Thank you for using JustAnswer. I am Loren, a licensed attorney, and I will do whatever I can to answer your question.
Before I answer a bit more detail would be helpful please.
Have you been notified that the lease is being terminated?
Have you tried contacting the lender?

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