Does it matter whether I have a lease? What happens next?

If you are a bona fide tenant without a lease, the new owner must give you 90 days’ notice before filing an eviction. If you had a lease, the new owner must allow you to occupy the property until the end of your lease term. The only exception is if the new owner plans to live in the property. If the new owner plans to live in the property, then they must give 90 days’ notice.

If you are a bona fide tenant with a Section 8 Housing Choice Voucher, you have extra protection. The Protecting Tenants at Foreclosure Act (PTFA) allows you to keep your Section 8 lease even if the new owner plans to live in the property.

Under the PTFA, the new owner becomes your landlord after title transfers. Both you and the new owner must follow the terms of your lease.