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Updated over 12 years ago,

User Stats

618
Posts
351
Votes
Robert Steele
  • Investor
  • Lucas, TX
351
Votes |
618
Posts

Anyone bought a REO with a tenant in it?

Robert Steele
  • Investor
  • Lucas, TX
Posted

I am aware of the Protecting Tenants at Foreclosure Act of 2009 but I was wondering if anyone has had any direct experience with buying a foreclosure with a tenant in it?

For instance, I assume to get protected from eviction under this law that the tenant is required to:
a) have a written lease
b) give you a copy of the lease

How do you verify that lease is authentic?
Is an aural lease good enough to prevent eviction?

What is stopping you from forcing them out due to a breach of lease for;
a) not maintaining the yard
b) being 1 day past the day the rent is considered late
c) any other minor thing that may be in the lease

Thoughts? Opinions? Experiences?

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