Real Estate Law
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A 2009 federal law, the Protecting Tenants at Foreclosure Act, afforded tenants the right to continue to occupy the property for at least 90 days after the property changed hands because of foreclosure. In many cases, tenants were able to stay for the full duration of their lease. That law has since expired, as of Dec. 31, 2014. Now tenants have little to no rights in these circumstances. The state of Pennsylvania does provide the new owner to give you 30 days notice to move out. Tenants are still bound to honor the terms of their lease agreement even after the property changes hands. They must make rent payments to the new owner until such time as the lease expires or the owner offers a new lease or serves notice of eviction. Of course, you can always make a new deal with the new owner and continue to live there and sign a new lease. If you pay a rental check to the new owner and they accept, then you have established a month to month oral lease but this can also be cancelled with 30 days notice. Basically, you lease is terminated upon the foreclosure but you have to be given 30 days notice to move and you can make a new deal with the new owner.
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