Do I still pay rent on a bank owned property?
I live in Georgia and the apartment complex I live in has foreclosed and is presently owned by the bank. Am I still required to pay rent?
Repossession
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3 Responses to “Do I still pay rent on a bank owned property?”
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October 26th, 2009 at 8:13 pm
Ja, moet u blijven betalend huur. Het verschil is u zal betalen het aan de bank. Als u er niet in slaagt om uw huur te betalen wanneer gepast, kan de bank u uitzetten.
Als u uw huur blijft betalen wanneer gepast, kan de bank niet u tot 90 dagen uitzetten nadat uw huur beëindigt.
October 30th, 2009 at 1:42 am
YES! You can never live in a place for free. You need to be paying the bank rent. if you do not they can evict you the same as any other landlord.
Banks are not in the business of being landlords. They will sell it as soon as they can. You will then have to pay the rent to the new owner.
October 31st, 2009 at 9:03 am
Yes, the same as before. The government requires the bank to have a property manager and continue renting until the complex is sold.
There is no force to leave in 90 days, that pertains to houses, not apartments. Your lease is in effect and this process should be transparent to you.