New Florida Foreclosure Law protects Tenants
Florida still holds the title for having the highest number of foreclosures in the United States. Even after seeing a reduction in the foreclosure cases since 2008, as of April, one in every 425 Florida residences are in foreclosure. The national average is one in 1,049.
Until recently, Florida law did not protect tenants living in a home that was foreclosed on. That changed on June 2, 2015, when Governor Rick Scott signed into law a bill to protect tenants living in a foreclosed home. The Florida law is similar to the federal Protecting Tenants at Foreclosure Act, which expired in 2014.
The new law provides that a tenant may remain in the foreclosed property for 30 days after the purchaser in the foreclosure sale delivers a written notice to the tenant. Previously, tenants were often only given a three day notice prior to eviction, which left many tenants without a place to live. Renters are usually not aware that their residence is in foreclosure until they are presented with an eviction notice and the almost-immediate move out demand.
Some Tenants May Not Be Covered Under the New Law
There are some exceptions that will affect a few tenants looking to take advantage of this 30-day grace period. If the mortgagor is still living in the home, they are not subject to the new law. Additionally, tenants whose payments are viewed as “substantially lower than fair market value for their living space” can be evicted without a 30-day notice. In this case, many may fight this exception due to the fact that “substantially less than” is undefined, and thus completely up to the judge’s discretion. This law does protect low-income families that pay less than market rent for the property because rely on the Housing Choice Voucher Program, otherwise known as Section 8, from being evicted without a 30-day notice.
Kelley, Fulton & Kaplan Can Help
If you feel that you were the victim of unlawful actions pertaining to your foreclosure situation, Kelley, Fulton & Kaplan is here to help. We invite you to set up a consultation with one of our knowledgeable foreclosure attorneys, where you can begin to learn more about your situation and the necessary steps to help you move forward. If you have any questions regarding West Palm Beach foreclosure law and your individual circumstances, feel free to give the experienced foreclosure attorneys at Kelley, Fulton & Kaplan a call today.