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SB 1362 — Rental Agreements
by Senator Rodriguez
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Judiciary Committee (JU)
The bill provides for the protections of the federal Protecting Tenants at Foreclosure Act (PTFA) to take effect as a state law if the federal act is repealed.
Under the PTFA, a person who acquires a foreclosure property (“successor in interest”) must give the tenant at least 90 days’ notice before evicting him or her. And if the tenant had signed a “bona fide” lease before foreclosure, the successor in interest must allow him or her to remain for the term of the lease, even if that exceeds 90 days, unless the successor in interest sells to a person who intends to occupy the property as a primary residence.
Additionally, the bill repeals this state’s current statute that protects the rights of tenants of foreclosed properties, which affords less protection than the federal statute.
If approved by the Governor, these provisions take effect July 1, 2020, except where otherwise provided.
Vote: Senate 38-1; House 115-0