I won a property at auction, what are my legal obligations for rental/leasing tenants?

Under the Protecting Tenants in Foreclosure Act, you are obligated to give a renter 90 days notice if they are renting on a month-to-month tenancy; or honor the terms of the lease, provided it is a valid lease, with fair market rents, and signed prior to the Notice of Default. If the renter fails to pay, under the terms of that lease, then you would have the right to evict them with 3 days notice, for failure to pay.

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