An ordinary sale generally leaves the existing lease and tenant protections in place, and the buyer becomes the landlord. A tenant does not have to move just because the house sells. For plain-language information, read the New York Attorney General’s Residential Tenants’ Rights Guide.
If a tenancy can lawfully end, New York advance notice can be 30, 60, or 90 days depending on the tenant’s occupancy and lease term. Good Cause Eviction and rent regulation can also limit nonrenewal where they apply. See Real Property Law §226-c for the notice periods and Good Cause notice.
At a sale, security deposits must be transferred to the new owner within five days or returned to tenants, with the required notice. Keep the leases, deposit records, and notices with the closing information. The rule is in General Obligations Law §7-105.