Landlord foreclosing - Can I walk away?

[geek_in_az]

Hi, all!

I'm currently in a 1 year lease for an condominium in Scottsdale, AZ.

It seems my landlord stopped paying the mortgage on the property a month before I signed my lease (bad landlord). I just received a Notice of Trustee's Sale on the condo -- it's going to auction on 9/15. He's trying to short sell it in the meantime. I'm not really down with having a bunch of potential buyers/realtors/etc. marching through my home for the next who-knows-how-many-months, so I'd like to just walk away and move elsewhere.

My lease agreement includes a clause titled 'Trustee's Sale Notice'. It states, "Landlord shall not allow the Premises to become the subject of a trustee's sale." My question is: is he in breach now, or will he only be in breach after the property actually goes on the auction block and/or is sold?

Any idea? Or is there any other reason that I might justifiably be able to walk away?

 

[Who's Liable?]

LL must give reasonable notice to enter the premises. This means nobody can just show up. You have the legal right to call the police and report strangers or breaking and entering.

You must continue to pay rent or face eviction for non-payment of rent.

If the home is sold either short sale or bought from someone else, they must follow the laws as outlined for existing tenant.

 

[dscurlock]

Hi, all!

I'm currently in a 1 year lease for an condominium in Scottsdale, AZ.

It seems my landlord stopped paying the mortgage on the property a month before I signed my lease (bad landlord). I just received a Notice of Trustee's Sale on the condo -- it's going to auction on 9/15. He's trying to short sell it in the meantime. I'm not really down with having a bunch of potential buyers/realtors/etc. marching through my home for the next who-knows-how-many-months, so I'd like to just walk away and move elsewhere.

My lease agreement includes a clause titled 'Trustee's Sale Notice'. It states, "Landlord shall not allow the Premises to become the subject of a trustee's sale." My question is: is he in breach now, or will he only be in breach after the property actually goes on the auction block and/or is sold?

Any idea? Or is there any other reason that I might justifiably be able to walk away?

This is like saying if a bank folds does that mean I get to walk away
from all my bills at the bank...car / house note, etc...just because they walk away does not give you the right too, as another company would just buy out the bank and continue your note, now if they dissolved their company 100% and did not go after anyone, then yes, but this is not going to happen with big business...another big company will buy them out or they sell their note obligations to a big buyer for some cash...which still leaves the clients at the bank on the hook...I think you get the point

since you are the client, you can wait for your lease to expire, or self terminate, which i think
you will know what happens then since you signed the contract...