FL H0415

Creates section 83.683, F.S., allowing immediate purchasers of foreclosed residential property to terminate tenant rental agreements with written 90-day notice.

Tenant may remain in possession until the end of the lease term or at least 90 days after receiving termination notice, whichever is greater.

Exception allows immediate purchaser to terminate rental agreement if reselling to a buyer who will occupy the property as primary residence, with tenant receiving 90-day notice.

Immediate purchaser must credit tenant's account for any security deposit paid to previous owner and any advance rent for unexpired rental period upon tenant providing evidence of amounts.

Does not apply if foreclosed mortgagor or their family member occupies the property, if rental agreement is not an arms-length transaction, or if rent is substantially below fair market value unless subsidized by government program; section expires December 31, 2012.