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Re: Foreclosure vs. eviction

Posted by Mark Smith on November 21, 1998 at 17:03:38:

In Reply to: Foreclosure vs. eviction posted by Shawneen on November 21, 1998 at 15:19:28:

If your apartment is rent controlled or rent stabilized, you generally can't be evicted by the landlord or the bank in a foreclosure. The only exception has involved the FDIC taking over a failed bank. If your apartment is not rent regulated, generally the bank can choose to evict you in a foreclosure. For the landlord to evict you, he/she would have to have a basis to evict you under your lease. If it is a month-to-month tenancy in New York, you or the landlord could terminate the tenancy at the end of the next rental period by giving 30-days'/one month's notice. I would not pay rent to the landlord, who may no longer be entitled to the rent. Notify the bank, by certified mail, that you are ready, willing, and able to pay the rent, but that you have not been advised of the account. Also send the bank a copy of any rent bills and eviction papers from the landlord, and let the bank's attorneys deal with the landlord.

: Does anyone know what the rules are regarding the following situation? My landlord is being forclosed on. I was served papers at the house because my name is on the lease. In a clause in the papers, it states that the bank will set up an account to deposit rent into. No account has been set up, but the landlord is trying now to evict. Do I have to pay the landlord? How can I protect myself?

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