How long you have to vacate your house after it has been foreclosed depends on two main variables: 1) the state you live in; and 2) whether you are the owner or just renting. For this article let’s assume that you are living in Arizona.
In Arizona, ownership interest passes to the new buyer at the foreclosure auction! Technically this means that as soon as the house is sold you are trespassing. At that point the new buyer might start the eviction process and very soon you might have the sheriff knocking on your door to remove you and all your property from the premises.
My advice is not to risk it, and try to vacate by the auction date. That is one of the reasons why, by Arizona law, the owner receives a 90 day notice of trustee’s sale. Anything on the property after the auction becomes the property of the new owner and you may have no rights to remove them. However, you may be able to work out some kind of a deal with the bank to stay in the house after the foreclosure date. But remember the new owner isn’t required to allow you to keep living on the property once they’ve purchased the house.
ARIZONA RENTERS WITH LEASE AGREEMENTS
- Arizona renters who have valid month-to-month leases may remain in their rented homes for 30 days from the date the property changes ownership—specifically, from the date when the title to the property is transferred to a new owner.
- Arizona renters who have valid leases that terminate after the date when a foreclosed property’s title transfers to a new owner may remain in their rented homes until the end of the lease term. For example, if an Arizona renter has a lease that ends September 30, 2021, and a new property owner takes possession of the property May 1, 2021, the Arizona renter may remain in the home until September 30, 2021. The exception to this provision is when the new Arizona owner intends to move into the property. In that case, the renter may live in his or her rented home for 90 days from the date the property changes ownership. In the above example, that would be July 30, 2021.
If you recently purchased an Arizona property and have a dispute with the Arizona tenants then contact the Dunaway Law Group at 480-389-6529 or message us HERE.