Rental Property being foreclosed, what are tenants rights?

[aldarden]

What is the name of your state (only U.S. law)? Florida. The rental property that I rent is being foreclosed. Official documents were delivered to me as the defendant. What should my next step of action? Will I be forced to move?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

[LindaP777]

Sadly, yes, you may be expected to leave. When the house is sold at the sheriff's sale, the new owner does not have to honor your lease. More than likely, the bank holding the mortgage will become the new owner. This is the best scenario, as they might offer you "cash for keys". This cash can be used to help you with moving expenses and deposit on a new place.
More bad news . . . you probably won't see any of your security deposit money that you gave to your landlord.

[aldarden]

Thank you very much for your advice. My next question is.... We rent through a real estate company who is the property manager for our landlord who is out of state. We actually signed the lease with them and gave them our deposite. I know that in sales the real estate company is required to hold escrow deposites in a seperate account is that the same for my security and pet deposite? Am I still required to pay rent on a property that is being foreclosed?