Massachusetts General Laws ch. 186 sec. 13A – Tenants deemed to be at will upon foreclosure of residential real property; status of tenancy agreements where rental payment subsidized under state or federal law
Current as of: 2024 | Check for updates
|
Other versions
Section 13A. Upon a foreclosure of residential real property pursuant to chapter 244, a tenant, occupying a dwelling unit under an unexpired term for years or a lease for a definite term in effect at the time of the foreclosure by sale, shall be deemed a tenant at will. Foreclosure shall not affect the tenancy agreement of a tenant whose rental payment is subsidized under state or federal law and the foreclosing entity shall assume the lease and rental subsidy contract with the rental subsidy administrator.
Terms Used In Massachusetts General Laws ch. 186 sec. 13A
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.