Trashed Out: Deutsche Bank Says Landlord Ruling May Flood Courts

Breaking and Entering

The tenants, who paid rent to the owner, sued after their belongings were tossed outside and destroyed and police barred them from the home. Deutsche Bank says the foreclosure ended the tenants’ lease, it played no role in evicting them, and loan servicers are responsible for dealing with renters.”

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Deutsche Bank Says Landlord Ruling May Flood Courts

Deutsche Bank AG (DBK) may learn today whether it will get a chance to overturn a California court ruling that exposes it to wrongful-eviction claims the bank says will depress prices in foreclosure sales and spur lawsuits against innocent homebuyers. (like they give a shit about innocent homebuyers)

An appeals court in San Jose, in the first such ruling in the U.S., said in January that Deutsche Bank can be sued in state court for violating a federal tenant-protection law. Two renters sued over their eviction from a foreclosed home the Frankfurt-based company acquired in 2009 as trustee for a mortgage-backed security that contained a loan on the property.

Deutsche Bank, along with bankers’ groups in California and Nevada, told the California Supreme Court the ruling may jeopardize the economic recovery as lenders and investors weigh the risks of buying properties that house unwanted tenants, are subject to leases, or are vulnerable to lawsuits brought by renters evicted by paid middlemen.

“The risk of being declared a landlord, when there was no knowledge of a tenancy at the time of sale, could have a chilling effect on bidding at the foreclosure sale,” Charles McKenna, the bank’s attorney, said in a petition asking the state high court to overturn the decision of the three-judge appeals panel. The San Francisco-based court may decide as soon as today whether to review the ruling.

Deutsche Bank National Trust Co., a U.S. unit of Europe’s largest investment bank, was the beneficiary of the deed of trust securing the loan on the property in Sunnyvale, California. Deutsche Bank, as trustee, acquired the home, which had a two-bedroom garage rental unit, after the owner defaulted on the mortgage.

More from Bloomberg here….

Copy of the opinion below…

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4closureFraud.org

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Nativi v. Deutsche Bank National Trust Co

Comments
5 Responses to “Trashed Out: Deutsche Bank Says Landlord Ruling May Flood Courts”
  1. Jc Shannon says:

    Catbird’s Nest Forward Observation Offshore 9/11 distracted Paradiso Sightings Blowback: Hawaii Shaloha Vulcan Banksters…by way of ho’opunipuni [deception] forged under fire from Paradise Shangri-la “land & power” paper forgery BOA Islands: “Look Boss, de Planes”….or “A New Perle Harbor”? Declassified under a State & Nation of Plausible perpetual Denials [since 1999 or “The Committee To Save The World” [Time Magazine] colluded with: A Zealous Band of Brothers [and Sisters] in Socio-Economic Arms way with a future public subsidized Rendezvous with SEC Financial Warrior destiny? Ref: “Chasing Goldman Sachs” / “Crash of The Titans” / “Land & Power in Hawaii” / “The Marcos’ and The Making of American Policy” / “The Crimes of Patriots” / “Defrauding America” / “Broken Trust Legacy” / “The Swiss, The Gold, and The Dead” / “Gold Warriors” / Hawaii: 1959-1989″. Amerikan Free Market Fascist Enterprises or Amerikan Criminal Syndicate SEC Enterprises….for the Few, The Proud, The Elite? [i.e. Deutsche Bankster Board – Norman Phillip Brownstein [AIPAC]; MERS Investigations to nowhere; U.S. Northern California District Court Rulings [Foreclosures and the diverted U.S. Immigration Shadow Board Rulings]; 9/11 WTC Building #7 with SSG Warriros and privatized Business Sector Tenants]…..from the Catbird’s eye of the vanishing Malaysian Tiger: Catch a stealth underwater Asian Pacific Tsunami Black Matrix Wave: Serfs Up? Book ’em Danno! “Eddie [Snowden] Would Go”? Sir, Yes Sir! Balls of The Eagle: Veterans Today.com

  2. mkd says:

    One thing I think people kind of forget, the banks and their cohorts believe they do not have to follow the law. They could care less if tenants have rights. Just get the hell out of the house no matter who you are. The banks need to be held accountable, which is very unlikely. Nothing will ever change.

  3. Sue says:

    As I recall, don’t the banksters name tenants – either by name or as unknown #1, #2, etc. – as defendants in foreclosures? If so, then the seller should be disclosing the fact and then how could a buyer be unaware that there’s a possibility of a tenant(s) in the property?

  4. Bobbi Swann says:

    I guess, like everyone else that is looking to take title to a property…..BUYER BEWARE! Why should lenders be exempt? Take the property in foreclosure then take the risk as well.

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