I am not a lawyer, so I fully expect my answer to be trumped, but the short answer is that most of your answers are a maybe.

Notice of auction in your case probably means that either the owner of the property has died and the estate is divesting the property quickly or more likely that the owner is bankrupt and this is a standard assets sale to satisfy creditors. There's an outside chance that the owner feels that an auction is his only option for selling, but this is doubtful.

The thing to remember is that your contract is being sold along with property. This means rent is still due to the owner, and the owner (whether it's the original owner or a foreclosing bank) is responsible for usage and maintenance.

As for vacating, I would refer to your contract. In all likelihood if you live in an apartment building, things will continue as before. However, there is probably a clause in your contract regarding terms of eviction and notice of eviction. The new owners will be beholden to these terms if they decide to use the property in another way.

If your arrangement with the owner involved no contract, I would strive to get one to specify eviction proceedings. Otherwise you can technically be evicted immediately, although some states provide protection for occupants.

I wish I could give you more definitive answers, but your best bet is to consult with a local renters rights group or housing authority for the particulars within your state.

I've included a link to the wikipedia article on eviction which goes into much more detail. I've also include a link to my podcast site, since I offer answers in exchange for a small promotional consideration. ;)
Source(s):
http://en.wikipedia.org/wiki/Eviction

http://beancast.us

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