A sale does not by itself cancel a tenant’s lease or make the home vacant. The written lease and Mississippi’s Residential Landlord and Tenant Act govern the landlord-tenant relationship, notices, possession, and any security deposit. If tenants are expected to move, the lease and applicable process govern the notice and possession questions; the sale alone does not set a move-out date.
Under Miss. Code Ann. §89-8-21(3), the landlord must itemize deposit deductions in writing and return the refundable balance within 45 days after the tenancy ends, possession is returned, and the tenant demands it. A court order or local rule may add requirements.
Mississippi Code §89-8-21(3), security-deposit itemization and return