Is it possible for the previous owner to rent the house from the new owner?
Occasionally, the new owner will agree to rent to you for a limited period of time.
Typically, you will be required to sign a signed rental agreement and pay rent. A “lease back with buy” deal should be avoided at all costs. The person that is leasing the property to you may simply be interested in receiving a large down payment and then terminating the lease agreement due to a minor default. You’re still out of the house, and they keep your money.
To avoid eviction, make a written agreement to vacate by a specific date.
The new owner may agree to give you a little more time to arrange to move in order to avoid the new owner going to court to evict you. There is no legal requirement that the owner do this.
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
“You folks are the BEST OF THE BEST in Arizona.” M.H.
You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process without you and Jay and God Bless you both always and stay in touch as well. You folks are the BEST OF THE BEST in Arizona.
“My only regret is that I didn’t find Diane sooner.” K.H.
I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the whole process. My only regret is that I didn’t find Diane sooner. If you find yourself in a financial situation that you can’t correct on your own, please Call Diane Drain as soon as possible.
“Filing for bankruptcy can be a stressful life event” R.A.
Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people get their life back on track. I would highly recommend them if you need a bankruptcy attorney.
RELATED FAQs
My intention is to put you back in control of your life
Start with $0 down*. We provide affordable payment plans.
