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Updated over 12 years ago,
Anyone bought a REO with a tenant in it?
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?