The Protecting Tenants at Foreclosure Act, Pub. L. No. 111-22, Â§Â§ 701-704 (2009), which became law on May 20, 2009, applies to state eviction proceedings. The act requires that a new owner who took title to residential rental property through foreclosure must honor existing leases until the end of the lease term.
There are three exceptions to this rule: 1) if there is an existing term lease and the new owner wants to occupy the foreclosed property as a personal residence before the end of the lease term, 2) if there is an existing term lease with less than 90 days to the end of the lease term, or 3) if the existing lease on the foreclosed property is a month-to-month tenancy or a tenancy at will.
How much notice will I get?
In each of these cases, the owner must provide the tenant at least 90 days notice to terminate the tenancy.