How long can owner continue to collect rent during a mortgage foreclosure?

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Attorney Tom Olsen: Let’s go to Larry in Casselberry. Larry, you’re on News Talk WDBO. Go ahead.

Larry: Good morning. I’m aware of a situation where a tenant has received documentation from the foreclosing bank not to pay anymore rent. And the owner is distraught about this. However the bank has told the tenant, the owner is not paying the mortgage. So therefore, the bank has served papers on the tenant not to pay the rent. So should the tenant be evicted for not paying rent per the bank’s instructions?

Attorney Tom Olsen: Well, who’s perspective are you coming from Larry? The owner or the tenant or the bank?

Larry: Actually, I guess I’m working for the owner right now. I’m just trying to help him out.

Attorney Tom Olsen: So, Larry, everything that I know of says that up until the moment that that foreclosure is finished, auction on a court house steps, that property belongs to the owner and the owner can collect rent on it.

Larry: I believe that too. Yes.

Attorney Tom Olsen: Yes. So the tenant may have been served with a notice of foreclosure action, but I’d be very surprised if there’s something that that says to stop paying rent to the owner. If there is, I’d like to see it Larry.

Larry: Okay, sir. Thank you for your advice.

Attorney Tom Olsen: Okay, thank you, Larry. Bye.

Produced by Professional Media Ideas. Call or text Chrissy Merrill at 407-808-8398 or by email at chris@lawtube.com

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