New Law Protecting Tenants After Forclosure

New Law Protecting Tenants After Forclosure

New Fla. law protects tenants after a foreclosure

TALLAHASSEE, Fla. – June 3, 2015 – Gov. Rick Scott signed a bill passed by the 2015 Florida Legislature, HB 779, into law yesterday.

The new law, which became effective when the governor signed it, allows the buyers of a foreclosed home to provide a notice to the tenant that effectively terminates the lease. The notice gives the tenant 30 days to relocate once he or she receives the notice.

In many cases, tenants don't realize that the home they're renting is in foreclosure, and at times discover the problem when they're handed an eviction notice that gives them 24 hours to vacate.

From 2009 through 2014, a federal law protected these tenants by required the purchaser to give a bona fide tenant at least 90 days notice. With a 30-day notice requirement, the new Florida law again offers protection to tenants surprised by a change in ownership.

Scott vetoes Citizens Property Insurance bill

A bill (HB 1087) that would have modified the way homeowners' policies are moved from Florida-owned Citizens Property Insurance to private insurers will not become law after Scott vetoed it yesterday.

In his veto message, the governor said that the current system "has gone a long way in reducing reliance on Citizens … (and) this bill undermines progress in growing the number of property insurance options and reducing assessment risks for Florida families."

A provision in the bill that would prevent a policyholder from receiving more than one take-out offer (when a Citizens-covered homeowner receives a coverage offer from a private carrier) is, according to Scott, "inherently unfair to Citizens policyholders in that it limits policyholders' private market options, which means they may miss an opportunity to move to a better property insurance alternative."

Scott also took issue with a provision that allows homeowners to return to Citizens coverage in some cases after they've moved their coverage to a private insurer.

© 2015 Florida Realtors®

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Phone: 407-791-3451
Dated: June 4th 2015
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