Only the legal title holder has exposure to these debts. A tenant is not responsible for any of these items, unless he signs a lease that calls for the tenant to be so responsible. So any lease needs to be looked at carefully before the tenant signs it.
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The tenant will have no responsibility for the debts and obligations of the townhome owner. As far as utilities go, that is a contractual arrangement between the homeowner and renter. Some rental agreements include utilities, but most do not and the renter will be responsible if they want the service.
One other risk not mentioned by other attorneys who have answered is that there is a chance the bank could pursue an eviction to reestablish their ownership of the property. There is a small risk that the tenant could be named as a defendant to the action, which is part of a public record that could show up on future background checks, making it more difficult to rent in the future.
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