Posted by Mark Smith on March 11, 1999 at 23:49:24:
In Reply to: Security Deposit posted by Pete on March 11, 1999 at 18:04:19:
Unless you were named as a party in the foreclosure action, your current lease is valid until the end of the term. The old landlord should have turned over the security deposit to the new landlord. See if the Attorney General's office can be of any help.
: Thanks to all who offered advice to my previous posting. After speaking
: with several of the parties involve in my situation, I am still confused.
: Here's my situation.
: I currently rent an apartment in three-story brownstone in Brooklyn.
: My original landlord lost the building in foreclosure. Shortly thereafter,
: I received notice stating that all future rents should be paid to "XYZ"
: Capital, Inc., who now manage/own the building. "XYZ" has asked me to move
: out because they have a someone who wants to buy the building vacant. They
: have offered me another apartment in another building they manage as well
: as moving expenses. HOWEVER, when I asked about my security deposit, they
: said I would have to try and collect that from my original landlord and
: that they were not responsible for it. Evenmore, they said I would have to
: come up with another security deposit if I want the apartment in their
: I asked my original landlord and he told me that the new owners were
: responsible for my deposit, not him. He says the new owners must honor the
: lease I signed with him at least until it expires. The new owners say the
: lease is invalid due to the foreclosure.
: I'm confused and have already made an appointment with a lawyer, but thought
: I would ask you for any info you might be able to shed on my situation.
: I don't mind moving into another apartment especially since the new owner
: has offered to help with the move. BUT, I do mind having to deal with
: another security deposit. I feel quite exposed as no one seems to be dealing
: honestly with me.
: Again, thanks in advance for you help
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