If you have a written lease for the property, it will transfer to the new owners. Their options, if they want you to vacate the premises are to ask you to leave or offer to buy out your lease for cash. If you refuse, you have a legal right to continue the tenancy.
Return of security deposit is handled the same way by the new owners as it would be handled by the previous owners.Rental and buying homes?
That is a dirty trick to pull and not informing you before you signed the agreement. They should have listed it as rent with option to by. The way the real estate market is going, they will be lucky to sale the house within six months.
Read your rental agreement, it should state that neither party can termination the agreement with a __ days notice. Where I live it is no less than thirty days if your rent is current.
Look at Terms #2 on the example below
What does your lease contract say, and do you have it in writing?
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