Legal Question in Landlord & Tenant Law in Arizona

The answer is probably that the answer is the one that we negotiate with Fannie Mae. Technically, when a bank forecloses on a commercial property it takes free of the lease; that is, it can terminate the lease to sell the property or to negotiate a new lease. What is new now is that federal agencies are taking over the banks and then (presumably) stand in the bank's shoes, so,again, can take the property free of the lease and evict you or demand a new lease. (their option to terminate; it is not terminated automatically). Alternatively, you may be able to negotiate a new lease at lower rent. My experience in talking to attorneys for the FDIC is that the FDIC was not able to get the price it wanted for the property in this market so was willing to come back and do a deal with the tenant. (However, the letters from the attorney to the tenant do not reflect this and may demand more rent). I think some time spent in negotiation may prove successful. But I have to say that in spite of great information sources like Law Guru I see so many lives ruined by simple, drastic mistakes made by legal "do it your-selfers" (i.e. clients who represent themselves) that I must strongly recommend that you hire an attorney to represent you.