I understand that according to the new fed law, rental lease agreements survive the foreclosure and must be honored by the new owner. i have some questions:
- dose the date of the lease matter? meaning if it was signed before NOD to the previous owner or after?
- when new owner takes over the lease, do they have to keep the same rent even if it is below market?
- if the previous owner has taken off with the security deposit & two month’s rent paid by the tenant, is the new owner liable for those?
- if the new owner can increase the rent to market rate, what type of notice is legally required?
I have read many opinions online and was wondering if anyone has actually followed a case in court which would shed some light on this. thank you