Legal Question in Wills and Trusts in North Carolina

Do not pay any rent just yet! Foreclosure was probably a breach of the lease. Read the lease to see what it says.

You can tell the old owner that you are not paying rent to him unless he plans on resolving the foreclosure. What is he going to do? Evict you? Is he trying to sell the condo? Or file bankruptcy? You need to find out his intentions. Put the rent into an escrow account or leave it in your bank account until you see what the owner will do. If he resolves this issue, then you can pay him the back rent but not before the matter is resolved.

If the foreclosure sale proceeds, the new buyer does not have to abide by the terms of the lease. They can ask you to leave. The question is, what do you want to do? Do you want to buy the condo? Keep renting? I would suggest that you wait and see who the new purchaser is going to be and then contact that party and make a deal with him or her or it if it is a corporation. Perhaps they will be glad to already have a tenant in the property and if so, you can then execute a new lease for the condo with the new owner.