"This Lease is binding upon Landlord and Tenant and their respective assignees and/or successors in interest."
and not something to the contrary.
Additionally, if your landlord is foreclosed on, the new owner is required by law, with a few exceptions, to honor your existing lease or to give you 90 days to move (see http://vaughnweberlaw.com/2010/05/17/tenants-foreclosure/)
Law Firm of Vaughn & Weber, PLLC
217 Willis Ave.
Mineola, NY 11501
This is not legal advice
Under the new law, which went into effect on May 20th, tenants will have to receive 90-days notice prior to being evicted, when their rental home is foreclosed upon. In addition, tenants must be allowed to stay in the property through the end of their lease, with two exceptions:
The new owner wants to occupy the property as a personal residence, and
There is no lease (month to month), or there is a lease but state law allows the lease to be terminated at any time upon notice.
Even under these exceptions, the tenants must be given 90-days before they can be evicted. Notification must be provided by the â€œimmediate successor in interestâ€. In some cases, this notification will come from the bank (when they assume the home), and in other cases it may be the new owner. Much will depend upon state law.
A number of states have existing laws protecting tenants. This law will preempt existing state law, except where the state law offers greater protection.
The protections of this law apply only to â€œbona fideâ€ tenants â€“ who have a written contract, the lease was the result of an arms-length transaction, and the rent is not substantially less than the fair market rent for the property. Under any conditions, tenants may still be evicted if they violate the lease terms.
These provisions expire on December 31, 2012.
Tell your landlord to contact me - visit http://www.longislandshortsales.org
I'll list it for him and explain to him the situation.