Prior Law Allowed Tenants to be Forced from Homes without Notice
Senator Andrea Stewart-Cousins (35th District – D/WF) announced that a new law guaranteeing greater protections (S7139) for tenants of buildings in foreclosure has been signed into law. Under the new law, rent-regulated tenants are now required to receive a notice of their housing rights, along with a notice of the building owner’s foreclosure. The bill takes effect 30 days from the date of signing.
A review of the state’s prior notification requirement for renters revealed that existing law failed to effectively communicate to rent-controlled and rent-stabilized tenants that their housing rights are unaffected by a foreclosure proceeding.