The Protecting Tenants at Foreclosure Act
The PTAF Act is a federal law that gives tenants certain rights when the building they are living in is in foreclosure. In Ohio, it is the only law of its kind because there is no state law that gives tenants in this situation any special protection. Federal law takes precedence over state law, and is enforced by state courts. As of 2013, unless extended, the PTAF ends December 31, 2014 at which time the tenant's right to receive a 90-day notice to move will end.
Tenants Get At Least A 90 Day Notice To Move
Tenants with a “bona fide” lease, as defined in the Act (see Tenants in Foreclosure FAQs), that was entered into before notice of foreclosure can remain in a foreclosed building until the end of their lease, unless the bank sells the property to someone who intends to make it his/her primary residence. If the new owner intends to occupy the home, they are still required to give a 90-day notice to the tenant prior to eviction.
If the tenant does not have a lease and is renting month-to-month, there is still a 90-day notice requirement prior to eviction. Notice must be provided by the “immediate successor in interest” which, in most cases, would be the bank or the new owner.
Sample Letters To Enforce Your Rights Under The PTFA
The National Housing Law Project has developed sample letters to send to landlords, courts and housing authorities notifying them of the rights granted to tenants under the PTFA. Click here to download the sample letters.