New York Landlord Selling the House
New York rules on landlord selling the house for renters and landlords, with the statute or official page behind each answer. Last verified: 2026-10-22.
Short answer: When a landlord sells the property (or assigns the lease), whoever holds the tenant's security deposit must turn it over to the buyer at delivery of the deed or within five days afterward, and notify the tenant by registered or certified mail with the buyer's name and address. N.Y. Gen. Oblig. Law § 7-105
The rules in New York
| If the landlord sells the property | When a landlord sells the property (or assigns the lease), whoever holds the tenant's security deposit must turn it over to the buyer at delivery of the deed or within five days afterward, and notify the tenant by registered or certified mail with the buyer's name and address. Once the deposit is turned over, the seller is released from liability for repaying it and the buyer becomes responsible for returning it. Failing to comply is a misdemeanor. The same rule applies to a foreclosure receiver or foreclosure-sale purchaser. The section does not apply where the landlord-tenant agreement is inconsistent with it. Source: N.Y. Gen. Oblig. Law § 7-105 |
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| Tenants in foreclosure | After foreclosure, a tenant in a unit that is not rent-controlled or rent-stabilized may stay for the longest of: (a) 90 days after the required notice; (b) the rest of the lease, if the tenant lived there when the foreclosure began or got the RPAPL 1303 notice; or (c) the rest of a good-faith, roughly market-rate lease, up to 3 years. The tenancy continues on the existing terms. The new owner must give every tenant written notice of these rights and of its name and address. A successor who will live in the property as a primary residence may limit one unit to 90 days. Rent-regulated and subsidized tenants keep their rights under other law. The tenant can still be evicted earlier for not paying rent. Accepting rent does not waive the successor's later eviction right (§ 1305(4)). Subdivision 2 counts the 90 days from service of the notice, while subdivision 3 counts it from mailing. RPAPL 1303 (notice to tenants during the foreclosure action) was not separately read. Source: RPAPL 1305(2)-(5); RPAPL 1303 |
Related questions
New York vs. neighboring states
| State | If the landlord sells the property | Tenants in foreclosure |
|---|---|---|
| New York | When a landlord sells the property (or assigns the lease), whoever holds the tenant's security deposit must turn it over to the buyer at delivery of the deed or within five days afterward, and notify the tenant by registered or certified mail with the buyer's name and address. Once the deposit is turned over, the seller is released from liability for repaying it and the buyer becomes responsible for returning it. Failing to comply is a misdemeanor. N.Y. Gen. Oblig. Law § 7-105 | After foreclosure, a tenant in a unit that is not rent-controlled or rent-stabilized may stay for the longest of: (a) 90 days after the required notice; (b) the rest of the lease, if the tenant lived there when the foreclosure began or got the RPAPL 1303 notice; or (c) the rest of a good-faith, roughly market-rate lease, up to 3 years. The tenancy continues on the existing terms. The new owner must give every tenant written notice of these rights and of its name and address. A successor who will live in the property as a primary residence may limit one unit to 90 days. Rent-regulated and subsidized tenants keep their rights under other law. RPAPL 1305(2)-(5); RPAPL 1303 |
| Connecticut | Unless otherwise agreed, a landlord who sells the rental to a good-faith buyer is relieved of liability under the lease and the landlord-tenant laws for events after the tenant gets written notice of the sale. Any sale or other transfer of the landlord's interest assigns the security interest in all tenants' deposits to the new owner (the successor), and the selling landlord must withdraw the deposits plus accrued interest from escrow and deliver them to the successor. The successor is liable for returning any part of a deposit that becomes due while it is the landlord. Conn. Gen. Stat. §§ 47a-10(a), 47a-21(c), (e), (h)(3) | When residential property is foreclosed and a bona fide tenant (not the owner, in an arm's-length lease) is in possession when title vests, ejectment is stayed and no eviction may start until: (1) for a written lease signed more than 60 days before the foreclosure began, the earlier of the lease end date or 60 days after title vests; or (2) for other tenancies, 30 days after title vests. Eviction for an ordinary ground, such as nonpayment, may proceed sooner. Any cash-for-keys offer from the lender or new owner must be at least the greatest of: the security deposit plus interest; 2 months' rent; or $2,000. The tenant cannot be required to waive other rights to receive it. The federal PTFA's longer 90-day notice also applies where it governs. Conn. Gen. Stat. § 47a-20e; § 47a-20f |
| Massachusetts | A tenancy at will in a home is not ended by the owner's sale, transfer or lease of the property, or by foreclosure (G.L. c. 186, §13). When a landlord holding a security deposit transfers the property by sale, assignment, death, receivership or otherwise, the landlord must transfer the deposit plus accrued interest to the successor, who then becomes liable for holding and returning it. Within 45 days of the transfer, the successor must notify the tenant in writing that it holds the deposit, with names, business addresses and phone numbers. If the old landlord fails to transfer the deposit, the successor still owes it to the tenant; a successor may satisfy that duty for a tenant still in the unit by giving rent-free occupancy equal to the deposit amount (c. 186, §15B(5)). G.L. c. 186, §13; G.L. c. 186, §15B(5) | Strong state protections. A foreclosing owner (lender or its affiliate) may not evict a tenant except for just cause, or once there is a binding purchase-and-sale agreement with a bona fide third-party buyer. Within 30 days of foreclosure, the owner must post notice in the building, mail it to each unit, and slide it under each unit's door, giving the owner and manager contact information and where to send rent, plus a written notice of the right to a court hearing. Evictions for nonpayment, uncured violations, or refusing a lease renewal can't start until 30 days after that notice. A tenancy at will is not ended by sale, transfer or foreclosure. M.G.L. c. 186A, §§ 2, 3, 4; c. 186, § 13 |
| New Jersey | A tenant protected by the Anti-Eviction Act may not be removed by the landlord's successor in ownership except for good cause (or in narrow federal-law or government-enforcement cases). The buyer must obtain the security deposits and accrued interest from the seller; whether or not they are transferred, the buyer becomes responsible for investing the deposit, giving the required notices, paying interest, and returning the deposit with interest. A seller who turns the deposit and the tenant's share of interest over to the buyer is released from liability for repaying it. N.J.S.A. 2A:18-61.3(b); N.J.S.A. 46:8-21 | Foreclosure alone is not grounds to evict. The Anti-Eviction Act's good-cause rules bind the new owner. Within 10 business days after taking title through a sheriff's sale or deed in lieu, the new owner must give tenants a notice in English and Spanish. The notice says where to pay rent, that the tenant is protected by the Anti-Eviction Act, and gives the new owner's contact information. In buildings of 10 or fewer units, it must be posted on each unit door and sent by certified and regular mail. The foreclosing party and new owner may not pressure tenants to leave (except by a bona fide cash-for-keys offer, with a 5-business-day review period). Violations bring $2,000 per violation or other civil remedies at the tenant's choice. N.J.S.A. 2A:50-70, 2A:50-71 (P.L.2009, c.296) |
| Pennsylvania | Anyone who buys rental property takes on the same duties, and gets the same rights and remedies, as the seller had (Landlord and Tenant Act § 104). Pennsylvania has no state law in the Landlord and Tenant Act of 1951 that sets a specific procedure for the seller to transfer the security deposit to the buyer or to notify tenants of the sale. Landlord and Tenant Act of 1951 § 104; Act reviewed | No state statute found — the Landlord and Tenant Act of 1951 has no foreclosure or sale protections for tenants beyond the federal PTFA. Landlord and Tenant Act of 1951 checked |
| Vermont | When the landlord's interest in the unit ends (for example, by sale), the security deposit must be transferred to the new landlord, and the new landlord must give the tenant actual notice of the new landlord's name and address with a statement that the deposit has been transferred. If there is no written lease, a landlord who has contracted to sell the building may end the tenancy with at least 30 days' actual notice; the statute does not give that right when there is a written lease. 9 V.S.A. §§ 4461(f), 4467(d) | In a mortgage foreclosure of residential rental property, the foreclosing party must join as defendants the tenants occupying under a rental agreement when the complaint is recorded (service by first-class mail is sufficient), and the summons must carry a 14-point warning that the home is being foreclosed. On receiving the complaint, the owner must tell each NEW tenant that a foreclosure is pending and they may have to leave on 30 days' notice (or longer federal notice). After judgment, the writ of possession must be served on a residential tenant and the plaintiff cannot be put in possession until at least 30 days after service (or longer if federal law requires). On an ordinary sale with no written lease, a landlord who has contracted to sell may end the tenancy on 30 days' actual notice. 12 V.S.A. § 4932(c); 12 V.S.A. § 4941; 9 V.S.A. § 4467(d) |
City rules that may add to state law
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New York Landlord Selling the House FAQ
What happens to my lease if my landlord sells the house in New York?
When a landlord sells the property (or assigns the lease), whoever holds the tenant's security deposit must turn it over to the buyer at delivery of the deed or within five days afterward, and notify the tenant by registered or certified mail with the buyer's name and address. Once the deposit is turned over, the seller is released from liability for repaying it and the buyer becomes responsible for returning it. Failing to comply is a misdemeanor. (N.Y. Gen. Oblig. Law § 7-105)
What are tenants' rights in a foreclosure in New York?
After foreclosure, a tenant in a unit that is not rent-controlled or rent-stabilized may stay for the longest of: (a) 90 days after the required notice; (b) the rest of the lease, if the tenant lived there when the foreclosure began or got the RPAPL 1303 notice; or (c) the rest of a good-faith, roughly market-rate lease, up to 3 years. The tenancy continues on the existing terms. The new owner must give every tenant written notice of these rights and of its name and address. A successor who will live in the property as a primary residence may limit one unit to 90 days. Rent-regulated and subsidized tenants keep their rights under other law. (RPAPL 1305(2)-(5); RPAPL 1303)
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.