What happens if I buy a house and there is a tenant living there?
For a traditional sale in Nevada, the buyer takes subject to the lease agreement. In other words, the lease has to run out before you can get rid of the tenant. The lease runs with the land and the new owner steps into the shoes of the old owner. The new owner will have the same abilities to terminate the lease and under the same circumstances as the original owner, which may include natural termination of the lease, a clause allowing the lease to be terminated upon a sale or a breach by the tenant. When the sale is completed, statute dictates that the prior owner either give the new owner any surety or security bond or else return it to the tenant with proper notice to the new owner.
In the event of a foreclosure by the bank, the new owner generally has to give a 60-day notice to the tenant. Tenants may be evicted following the procedures in NRS 40.290-40.420, but only after the bank or other new owner has provided conforming notice and given the tenants a notice period. NRS 40.255(2) (describing the notice period); NRS 40.255(4) (describing the required contents of the notice).