Tuesday
Oct022012
New Tenant and Landlord Law Effective January 1, 2013
Brian Donlyuk - Vista Filare Specialist
Starting January 1, 2013, it is a landlord's obligation to disclose to a prospective tenant if the property to be leased is in foreclosure. "Foreclosure" starts when a Notice of Default is recorded against the property.
This disclosure must be made before executing a lease agreement. If a landlord violates this law, the tenant can elect to void the lease and recover one month’s rent or twice the amount of actual damages, whichever is greater, plus all prepaid rent. If the lease is not voided and the foreclosure sale has not occurred, the tenant may deduct one month’s rent from future amounts owed. The written disclosure notice as provided by statute must be in English, Spanish, Chinese, Tagalog, Vietnamese, and Korean.
It is recommended that tenants seek the advice of an attorney if they encounter such a situation.
This disclosure must be made before executing a lease agreement. If a landlord violates this law, the tenant can elect to void the lease and recover one month’s rent or twice the amount of actual damages, whichever is greater, plus all prepaid rent. If the lease is not voided and the foreclosure sale has not occurred, the tenant may deduct one month’s rent from future amounts owed. The written disclosure notice as provided by statute must be in English, Spanish, Chinese, Tagalog, Vietnamese, and Korean.
It is recommended that tenants seek the advice of an attorney if they encounter such a situation.
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