Investors, Former Homeowners, and Tenant Representation
The depressed economy has created an explosion of foreclosures and resultant post-foreclosure evictions. Daniel Marshall, has represented a number of post foreclosure investors in quickly gaining possession of their investment property. These services can include Cash for keys negotiations including stipulations that guarantee a move out or lockout date. Daniel Marshall firm also represents former homeowners in cash for keys negotiations and extending the time the homeowner stays in possession of their home.
How does a Post Foreclosure Eviction differ from a regular Eviction
Post foreclosure evictions are strictly concerning the right of a new owner to evict an occupant of the foreclosed home. Like all evictions the statutory notice requirements and process to obtain possession must be strictly followed. This type of eviction requires legal assistance more than any other type of eviction and here is why. The eviction requires proof that the buyer has perfected title; There are special notices required with different time frames up to 90 days for bona fide tenants; California notice requires additional notice documents to be served. New owner negotiations and communications with occupants can and will cancel out prior written notices and make you start over again or lose the lawsuit at trial.
WHAT AN INVESTOR NEEDS TO KNOW
My objective is to help you, as an investor, make your asset marketable. A post foreclosure eviction is a process that is more complicated than it looks. You need an effective attorney to lead you through a complex process where time is of the essence. Below is the outline of that process that with the help of Daniel Marshall, who understands the most common mistakes people make when pursing a 30 or 60 day notice.
1. STATUTORY AUTHORITY
Post foreclosure eviction requirements are found in California Code of Civil Procedure
CCP Sect. 1161a, and 1161b, 1161c and the federal laws primarily in Protecting Tenants in Foreclosure Act (“PTFA”) and the Service Members Civil Relief Act (“SCRA”)
2. PROPER NOTICE REQUIRED UNDER CALIFORNIA LAW
3 day Notice for former homeowners living in the residence-
30 day Notice for tenants and subtenants living in the residence with the homeowner-
60 DAY NOTICE for tenants/subtenants living in residence no homeowner.
COVER SHEET- CCP 1161c requires a notice to all “renters” in addition to the below notices. Must use precise statutory language explaining their rights to legal assistance.
3. PROPER NOTICE UNDER FEDERAL LAW
90 DAY NOTICE
As a result of the foreclosure crisis the Congress passed the Protecting Tenants in
Foreclosure Act of 2009. This law for now provides 30 days extra notice requirement for
tenants who have a bona fide lease.
A bona fide lease cannot be established if the former homeowner, their child,spouse or parent is the tenant.
The lease is not below fair market rents or is subsidized by a state or federal program.
Warning! HUD programs as administered by the state have their own 90 day requirement.
4. NOTICE TO ACTIVE DUTY SERVICE MEMBERS REQUIRED
Proper notice required to avoid delaying eviction and later challenges to lockout.