The lease runs with the property and is enforceable by both sides (you and the new owner). Normally, your security deposit is transferred as a credit to the buyer from the seller, because the new owner will now owe it to you under the original terms of the lease. You might, as a courtesy, remind the seller of this, but you have no say in their negotiations. Rarely, there are provisions for terminating the lease on sale -- you'd have to inspect the terms of your lease.
As to re-negotiating a lease, this is always available to you, regardless of change in ownership or not, but it does not automatically give either you or the owner a leg up on the other party. Discussing the matter with the new owner is highly advisable.
Foreclosures or other involuntary conveyances operate a little differently.
I work 75228, love the area, would love to help you find your new home!
Best regards, Monica Grosz, 214-762-1515, email@example.com
Sorry Charlie, your property is being sold with the lease outstanding which means the new owner can not take occupancy until the lease has run its' course. HOWEVER, once the new owner takes possession of the property, you may renegotiate your lease with them. You have other options available to you. We'd need to know:
Terms of lease
Amount of lease
My husband and partner, Robert, is a commercial Realtor and investment property specialist (your property falls under that umbrella.) Feel free to give him a call at 214.205.8372 and he can help you further.