Foreclosure Tenants

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
News & Analysis as of

What Exactly Is A Subordination, Non-Disturbance And Attornment Agreement, And Why Do I Need One?

While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and Attornment Agreement,” commonly referred to a an “SNDA,” a majority of tenants who have signed such leases,...more

Real Property, Financial Services & Title Insurance Case Law Update: June 2014 #1

Foreclosure/Surplus Funds: subordinate lienholder who failed to file claim to surplus funds with clerk within sixty days of foreclosure sale as required by section 45.031(7)(b), Florida Statutes (2010) not entitled to surplus...more

Real Property, Financial Services & Title Insurance Case Law Update: May 2014 #1

I. FLORIDA STATE CASES - SARA WITMEYER - - Jurisdiction: where court never entered order authorizing individual to intervene and individual never became party to litigation, court had no personal jurisdiction to...more

Real Property, Financial Services & Title Insurance Case Law Update

I. FLORIDA STATE CASES – JOURDAN HAYNES & ILAN NIEUCHOWICZ - - Landlord/Tenant: lessor did not breach commercial lease by failing to complete construction by date certain where lease did not provide date by which...more

Lenders Can Prepare for Tenant Offset Rights in SNDAs

Tenants’ limited recourse to their landlords has made “offset rights” a major issue in negotiating Subordination, Non-Disturbance and Attornment Agreements (SNDAs). Tenant offset rights arise when the tenant has the...more

Round Two – Ground Rent Holders vs. Legislature – Goes to…

In a case decided February 26, 2014, State of Maryland v. Stanley Goldberg, et al., No. 8, September Term, 2013, the Maryland Court of Appeals found that legislation that replaced the remedy of ejectment with a...more

Real Property, Financial Services & Title Insurance Case Law Update: Weeks Ending March 14 & March 21, 2014

I. FLORIDA STATE CASES – SCOTT FEATHER & JOURDAN HAYNES - - Summary Judgment: reversal of summary final judgment of foreclosure because of disputed issues of fact concerning amount of rents received from property that...more

Weekly Law Resume - February 2014: A Foreclosure Sale Does Not Act Automatically to Evict Residential Tenants

Rosario Nativi, et. al. vs. Deutsche Bank National Trust Company, et. al. - Court Of Appeal, Sixth District (January 23, 2014)- The Protecting Tenants at Foreclosure Act (“PTFA”) was enacted in 2009 to provide...more

Sixth Circuit Holds PTFA Preempts Less Restrictive State Law, May Be Used To Establish State Law Causes Of Action

On February 7, the U.S. Court of Appeals for the Sixth Circuit held that while the Protecting Tenants at Foreclosure Act (PTFA) provides no private cause of action, plaintiffs may use violations of the PTFA to establish...more

California Appeals Court Revives Tenants’ Claims Against Foreclosing Bank

On January 23, the California Court of Appeal, Sixth District, held that under the federal Protecting Tenants Against Foreclosure Act (PTFA) a lease survives foreclosure through the end of the lease term, except under limited...more

Alabama Federal Court Ruling May Enable Borrowers with Tenants To Challenge Foreclosures

A recent decision from the U.S. District Court for the Northern District of Alabama may provide borrowers who rent portions of their property to tenants with an avenue for challenging a foreclosure. The court's analysis...more

Practical Considerations for Dealing with OREO Properties: Part II - Post-Sale Considerations

In the Summer issue of the West Virginia Banker Magazine, we discussed certain factors that banks should consider before taking ownership of real estate collateral at a foreclosure sale. Once taken into a lender’s inventory,...more

Arizona Decision May Complicate Foreclosure and Eviction Process for Lenders

A recent Arizona Court of Appeals decision could create new complexities for lenders exercising their power of sale under a deed of trust. In Grady v. Superior Court of Maricopa County, the Court of Appeals sided with the...more

California’s “Homeowner Bill of Rights”—Be Aware of Your Obligations

The California Homeowner Bill of Rights became law on January 1, 2013. It was created “to ensure fair lending and borrowing practices for California homeowners,” and is the byproduct of a “Mortgage Fraud Strike Force” created...more

Illinois Adds Foreclosure Tenant Rights

On August 21, Illinois enacted SB 56, which adds rights for tenants of foreclosed properties. The law provides, among other things, that the entry of a judgment of foreclosure shall not terminate or otherwise affect the...more

Tenant Evicted Without Proper Notice After Bank Foreclosure Does Not Have a Private Right of Action to Bring a Lawsuit Under the...

In Logan v. U.S. Bank National Association (--- F.3d ----, C.A.9 (Cal.), July 16, 2013), the Ninth Circuit Court of Appeals considered whether a tenant evicted from a foreclosed property could bring a lawsuit against the...more

Real Estate Tip – Ground Leasing Part 3: Default May Lead to Tenant Losing Building

In parts 1 and 2 of our ground lease series, we discussed the basics of ground leases, including by-agreement and sales-based rent adjustments. Today, we look at another lease issue that becomes more critical in the ground...more

Weeks Ending July 5 & 12, 2013

I. FLORIDA STATE CASES - JOURDAN HAYNES - Insurance/Ambiguity: insurance policy ambiguity must be construed against insurer and in favor of coverage without resort to consideration of extrinsic evidence – Washington...more

Chicago Continues to Aggressively Regulate Foreclosed Properties with New Requirements on Tenant Leases

In early June, the City of Chicago passed the "Keep Chicago Renting" ordinance (SO2012-5127), which requires that the owner of foreclosed properties offer existing tenants renewal of their lease or pay expenses to the tenant...more

Rogers Towers: Attention All REO Officers: Florida’s Commercial Landlord/Tenant Laws May Apply to You!

When foreclosing mortgages on commercial properties in Florida, banks are often able to choose whether to keep or remove the tenants after foreclosure. The decision to keep or remove a tenant usually depends on the financial...more

Preparing for the Worst: Texas SNDAs get lenders, landlords and tenants on the same page in the event of foreclosure

Subordination, Non-Disturbance and Attornment agreements (SNDAs) allow lenders, landlords and tenants to collectively plan for the worst case scenario — foreclosure. In the event of foreclosure and in the absence of an SNDA,...more

Appellate Notes: Week of March 25

In This Issue: - SC18915- Misiti, LLC v. Travelers Property Casualty Co. of America - SC18840- New England Road, Inc. v. Planning & Zoning Commission - SC18804- Cordero v. University of Connecticut...more

Burr Alert: Salt In A Lender's Wound: What Actions Should A Lender Take Under The Newest Version Of The ‘Protecting Tenants At...

In the context of residential foreclosures, one of the biggest issues facing foreclosing lenders is handling non-borrower tenants and occupants of the subject property. Tenant and occupant issues have, until recently, been...more

Appellate Notes: Recent Decisions of the Connecticut Supreme and Appellate Courts - January 2013

In This Issue: -AC31211 - Aguinaldo v. Warner -AC33771 - Thompson Gardens West Condominium Assn., Inc. v. Masto -AC33850 - Unifund CCR Partners v. Schaeppi -AC33400 - Samnard Associates, LLC...more

Insolvency Legislative Update - February 2013

California enacted a number of pieces of legislation over the last year or so of great importance to insolvency professionals. These include bills impacting mortgage foreclosures, sales of tax-defaulted property, wage...more

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