HB 2618 Summary

• Allows tenants lawfully in possession during foreclosure to remain in the property for the remainder of their lease or 90 days after the new owner takes title, whichever is longer.

• Requires landlords to provide written notice of possible foreclosure to tenants when rental agreements are entered into after foreclosure action has been initiated, including court information and sale details.

• Permits tenants to pursue damages and injunctive relief if landlords fail to provide the required foreclosure notice, with security deposits to be returned as prescribed by law.

• Exempts multifamily residential rental units with four or more connected units from these foreclosure notice and tenant protection requirements.