The Protecting Tenants at Foreclosure Act (PTFA) went into effect in May 2009. The PTFA provides protections to tenants in foreclosed properties.
The PTFA is found in the Helping Families Save Their Homes Act of 2009 (a document of 1632 pages). Originally set to expire (or "sunset") on December 31, 2012, Dodd-Frank extended the expiration date of the PTFA to December 31, 2014.
Under this legislation, the immediate successor of interest (generally the purchaser) of a foreclosed property must provide all tenants with at least 90 days notice prior to eviction because of foreclosure.
In this newsletter:
-Protecting Tenants at Foreclosure Act
-Dodd-Frank extends the PTFA
-National Housing Law Project
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