I live in Va. I have been renting for 4 years, and I just found out that the home went to auction, and the bank bought it back, is my lease still good, and how do I get my security deposit, and pet deposit back..?

You will have to talk to your old landlord about the deposts, ( don't expect to get them, since he lost the house, most likely he does not have the money to pay you.) But he will be the one to pay you.

You need to talk to the bank about continue to rent, or perhaps you can discuss buying the home

Your lease needs to be honored. Most banks would prefer to have a renter rather than allow the property to be vacant.

When someone (even a bank buyback) buys a house, they are responsible for reading leases and collecting deposits from the seller. You are entitled to your deposits from the new owner, when you move, at the end of your lease.

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Originally Posted by joypulv;

When someone (even a bank buyback) buys a house, they are responsible for reading leases and collecting deposits from the seller. You are entitled to your deposits from the new owner, when you move, at the end of your lease.

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I wouldn't count on it.

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Originally Posted by AK lawyer

I wouldn't count on it.

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If the deposits are clearly shown in the lease, they are part of the sale, and even if the seller is broke and long gone, the tenant has recourse against the new owner.
If they aren't shown, then I agree that it will be tough.

Quote:

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Originally Posted by joypulv

If the deposits are clearly shown in the lease, they are part of the sale, and even if the seller is broke and long gone, the tenant has recourse against the new owner.
If they aren't shown, then I agree that it will be tough.

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The problem here is that a foreclosure is not an actual sale. It may not be until the bank sells the property, that the buyer will be responsible for the tenant's deposit.

The bank IS the owner and landlord and is responsible for everything provided for in the lease.