Expert: Terry Leeders - 9/27/2007

Question
Will I have to move or be evicted if my landlord files bankruptcy?  If he's foreclosed on?

Answer
maybe not.  He may be assuming the lease, meaning keeping the property, and his filing would have no effect on your lease.  If he is surrendering, then you would have to deal with the mortgage company. Most of the time, they will either let you finish your lease, or would let you out if you wish.  In Illinois, if you are current on the lease, you can continue to the end of your lease as long as you stay current on the payments.