I am a renter in VA that just found out the place I am renting is being foreclosed on. I received a letter in the mail addressed to Occupant, stating “Notice of Default, Acceleration & Foreclosure Sale”, basically my landlord has not been paying the mortgage and the property is going to public auction on 1 Feb. Now that I have this notice I just want to get out of this place, but I need to know if legally I can do this or do I have to wait to see who the new owners are? I would think I have no legal obligations to them since I did not sign a lease with them, does anyone know? Plus, my rent is due on Feb 1st, but that is when the place goes to public auction, so he will no longer be the owner, do I still have to pay my landlord or can I just leave the property? Plus, should I go to the public sale? How long after the public sale will I get notice to be out (although, I would prefer just to leave now, but I will need at least the first week in Feb to do so)

My lease says nothing about this, the closest thing I can find is a subordination clause, but I don’t really know what it is telling me.

Any help on these matters would be greatly appreciated.

You do not have to wait until you see who the new owners are. I assume you have paid for January. So you can move out prior to 2/1. The problem you may encounter is if the landlord forestalls the foreclosure. If he does, then you still owe on your lease. If you have a while to go on the lease, then I would see if the landlord will let you out of the lease. If you are on a month to month basis, then give him 30 days notice. So you might have to pay for February, if he manages to forestall the foreclosure.

How much time you will be given to vacate depends on the new owners. Have you considered buying the house? If the landlord is going to lose it anyway, he may be willing to assign the mortgage to you for a small payment.