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Landlord served notice for defaulting on mortgage

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  1. #11

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    STOP paying rent and live there for a while and once the deposit is used up, Move!!!!!!!!

    TheBrit, JasFamily and JAherbert like this.

  2. #12

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    Quote Originally Posted by wtbhotia:
    STOP paying rent and live there for a while and once the deposit is used up, Move!!!!!!!!
    Yep, agree, I would stop paying rent to utilise the deposit, since the landlord is in default with the bank, you are unlikely to get the deposit back. Wait to see if you hear anything from the Landlord first.
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  3. #13

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    Quote Originally Posted by TheBrit:
    For your options now, ceasing to pay rent might be a sensible way to start building some reserves against the potential withholding of your deposit.
    This.

    Was in a similar situation also around 15 years ago with an office. We concluded it was the best to stop paying and move.
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  4. #14

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    You will never see your deposit again, you have 1-2 months before you're out. So best bet is to not pay the rent, to recoup your deposit, and move.

    I'm surprised to hear that the bank can evict a tenant with a stamped lease, I didn't know that. Was the "message" from the bank an empty threat or is there legal standing to it.

    I don't see the agent being liable for this, that's the landlords responsibility. On the other hand, if the tenant moved out and the landlord made good with the bank, can the landlord sue the tenant for the remainder of the lease term? I don't think a notice of eviction or proceedings is a legal way out of the lease just yet, but I don't see the landlord pulling that stunt. Given how tricky landlords can be, I would be surprised if they didn't figure some way to capitalize on this situation.


  5. #15

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    I'm surprised to hear that the bank can evict a tenant with a stamped lease, I didn't know that. Was the "message" from the bank an empty threat or is there legal standing to it.
    The bank technically owns the apartment till the mortage is paid and the title is handed over to the owners. CLIC website is very clear that unless the bank has authorised it, you're a trespasser and the landlord has most likely violated the terms of his mortage.

    Not always the case, many landlords will have informed the bank that they have mortaged and may be paying a point or two extra on the mortage. This is true in the case of landlords will multiple investment properties - often behind a shell company.
    Last edited by shri; 31-03-2016 at 04:20 PM.

  6. #16

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    If you are technically trespassing the issue of paying rent is a bit less important. Don't put money into any escrow, will just cost you more and you may not get that money and your deposit back

    I guess if you want to be super cautious, give your lawyer a check to hold and give to whoever if and only if the issue is resolved? I do think this is also a bit too much. I'd just walk away.


  7. #17

    Hi there,

    As a tenant, how do you ensure that the landlord has obtained consent to rent his/her property from the mortgagee?

    Thanks


  8. #18

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    Original Post Deleted
    tough situation for you.

    my friend had property taken back by bank years ago, this type of action does not happen overnight, the landlord must have bank documents, and then court papers stretching back for many months, it seems long before you signed the lease, yet landlord still signed the lease, so that gives you some idea about the person you are dealing with. The court is involved with owner not tenant, best prepare for a move.

    I agree with Shri and others 100% - DONT pay anymore rent, dont send to escrow, dont give cheque to lawyer;

    Unless and until landlord returns your deposit in cash (very unlikely given that she is not paying the mortgage). in your shoes I would not take cheque, or promises to pay back deposit after you paid rent either.

    It will be difficult because now there is tenant, I guess the rent will cover the mortgage, so the landlord could now argue they can pay the bank, but the landlord probably owes many months payments, hence the legal action.

  9. #19

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    Original Post Deleted
    Well played and congrats for working out a genuine win-win!

  10. #20

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    Quote Originally Posted by Thierry472:
    Hi there,

    As a tenant, how do you ensure that the landlord has obtained consent to rent his/her property from the mortgagee?

    Thanks
    There is a consent letter issued by the bank if I recall.
    Thierry472 likes this.

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