FL S0524

Purchasers of foreclosed residential properties with tenant occupants take title subject to the tenant's rights under the new statute.

Tenants may remain in possession for 30 days after receiving written notice of termination from the purchaser, during which they must continue paying rent.

Purchasers must deliver the 30-day termination notice in the prescribed form and manner; tenants are entitled to protections under section 83.67.

Purchasers may apply for a writ of possession if tenants fail to vacate after the 30-day period ends, governed by section 83.62.

The statute does not apply if the tenant is the mortgagor or their family member, if the rental agreement is not at arm's length, or if rent is substantially below fair market value (except for federally, state, or locally subsidized rent).