Entirely possible, yes -- if the bank takes over the apartment, they will probably kick you out so they can sell it. They won't do this except as a last resort though, so no need to panic yet. When does your lease end?StockAnswer wrote:Now we are wondering whether the financial institution (that our landlady has told us she is making payments to) has not received any payments...
If that is the case, is it possible that we have to move out? What can happen with our lease if she has stopped paying the bank?
Unlikely. Your lease and the landlord's mortgage terms will almost certainly have language that allows them to kick you out. Of course, it may also be in the bank's best interest to let you keep staying there and paying the rent...ScoobyDoes wrote:If the apartment passes back from the owner to the bank/financial institution, isn't this the same as selling on to somebody else anyway, meaning the rental contract duly stamped is still in force?
It's a two-edged sword; if you stop paying your rent, you can get kicked out within a week after it becomes overdue. Unless it becomes clear that the bank is about to take over, I would only withhold the last month's rent in lieu of deposit.Don't know what's best to do with regards the deposit though, maybe Saint is right on that one.
Our lease is until close to the end of November 2010.jpatokal wrote: Entirely possible, yes -- if the bank takes over the apartment, they will probably kick you out so they can sell it. They won't do this except as a last resort though, so no need to panic yet. When does your lease end?
It's quite possible for the owner to have passed away, and their estate is being sorted out by family members, who knows.StockAnswer wrote:Would anyone know if there is a way for us to find out what is going on between the landlady and the bank?
Or do we just have to wait and see what happens?
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