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Notice of pending foreclosure

Published (4/11/2008)
By Craig Green
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When a Renters Working Group met last summer to discuss issues facing tenants in properties undergoing foreclosure, they discussed the fact that renters are not always given the full story about the homes they live in.

For instance, if someone was to rent a property while that property is in the redemption period of a foreclosure, they are not entitled to notice from the landlord about the situation. Those who rent before the redemption period are entitled to a notice — but only one month’s notice.

A new law requires that the notice of mortgage foreclosure be given to prospective tenants, and it extends the timing of notice to existing tenants from one month to two. The law also allows a tenant to withhold the last month’s rent under certain circumstances.

Rep. Paul Kohls (R-Victoria), who served as part of the working group, said the legislation is intended to clean up some of the issues that came up when tenants are caught in the middle of foreclosure procedures.

Sponsored by Kohls and Sen. Linda Higgins (DFL-Mpls), the law was signed by Gov. Tim Pawlenty April 4, and takes effect Aug. 1, 2008.

HF3476/SF2908*/CH177

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