foreclosure income property
Do I have to pay rent after my landlord files bankruptcy?
My landlord filed bankruptcy and I need to know if I have to continue paying him rent. I am listed as a creditor with the bankruptcy trustee. The house is in foreclosure and will be sold by the bank. (it is income property, not his residence). I am now stuck, because I am not sure if I still need to pay rent to the landlord or wait for the trustee or bank to contact me.
Don’t pay anything until the bank contacts you. Unless they’ve given you payment information to them already? Doesn’t sound like it.
Save that rent until it gets asked for and the smoke all clears. Don’t pay the old owner as the bank may knock on your door asking for that same rent.
Also, paying now may not get you a full month of rent as you never know what happens in a sale like that. Hopefully the new owner will ‘accept’ your contract.
Just save that money until you get more information. You never know, you may get to bank a month free for the ‘inconvenience’.
