Florida Senate - 2015 SB 524 By Senator Soto 14-00703-15 2015524__ 1 A bill to be entitled 2 An act relating to rental agreements; creating s. 3 83.561, F.S.; providing that a purchaser taking title 4 to a tenant-occupied residential property following a 5 foreclosure sale takes title to the property as a 6 landlord; specifying conditions under which the tenant 7 may remain in possession of the premises; prescribing 8 the form for a 90-day notice of termination of the 9 rental agreement; establishing requirements for 10 delivery of the notice; providing exceptions; 11 providing an effective date. 12 13 Be It Enacted by the Legislature of the State of Florida: 14 15 Section 1. Section 83.561, Florida Statutes, is created to 16 read: 17 83.561 Termination of rental agreement upon foreclosure.— 18 (1) If a tenant is occupying residential premises that are 19 the subject of a foreclosure sale, upon issuance of a 20 certificate of title following the sale, the purchaser named in 21 the certificate of title takes title to the residential premises 22 as a landlord, subject to the rights of the tenant under 23 paragraph (a). 24 (a)1. If a written rental agreement was entered into before 25 the issuance of the certificate of title, the tenant may remain 26 in possession of the premises until the end of the term 27 specified in the rental agreement or at least 90 days following 28 the date of the purchaser’s delivery of a written notice of 29 termination of the tenancy to the tenant, whichever occurs 30 later. 31 2. If a written rental agreement was entered into before 32 the issuance of the certificate of title, but the purchaser 33 named in the certificate of title sells the premises to a 34 subsequent purchaser who intends to occupy the premises as a 35 primary residence, the subsequent purchaser may terminate the 36 rental agreement by delivering a written 90-day notice of 37 termination to the tenant. 38 3. If a written rental agreement was not entered into 39 before the issuance of the certificate of title, the tenant may 40 remain in possession of the premises for 90 days following 41 delivery of the written 90-day notice of termination. 42 (b) The 90-day notice of termination must be in 43 substantially the following form: 44 45 You are hereby notified that your rental agreement is 46 terminated effective 90 days following the date of the delivery 47 of this notice or the end of the term specified in your written 48 rental agreement, whichever occurs later, and that I demand 49 possession of the premises on that date. You are still obligated 50 to pay rent during the 90-day period or the remainder of the 51 term of your rental agreement, in the same amount that you have 52 been paying. Your rent must be delivered to ...(landlord’s name 53 and address).... 54 55 (c) The 90-day notice of termination shall be delivered in 56 the same manner as provided in s. 83.56(4). 57 (2) Subsection (1) does not apply if: 58 (a) The tenant is the mortgagor in the subject foreclosure 59 or the child, spouse, or parent of the mortgagor in the subject 60 foreclosure, unless the property is a multiunit residential 61 structure and other tenants occupy units of the structure. 62 (b) The tenant’s rental agreement is not the result of an 63 arm’s-length transaction. 64 (c) The tenant’s rental agreement allows the tenant to pay 65 rent that is substantially less than the fair market rent for 66 the premises, unless the rent is reduced or subsidized due to a 67 federal, state, or local subsidy. 68 Section 2. This act shall take effect upon becoming a law.