(b) Notifying the tenant or subtenant that the
lease or rental agreement the tenant or subtenant entered into with the
previous owner or landlord of the property continues in effect through the
notice period described in subsection 2; and
(c) Notifying the tenant or subtenant that
failure to pay rent to the new owner or comply with any other term of the agreement
or applicable law constitutes a breach of the lease or rental agreement and may
result in eviction proceedings, including, without limitation, proceedings
conducted pursuant to NRS 40.253 and 40.254.
5. If the property has been sold as a
residential foreclosure in any of the cases described in paragraph (b) or (c)
of subsection 1, no person may enter a record of eviction for a tenant or
subtenant who vacates a property during the notice period described in
subsection 2.
6. If the property has been sold as a
residential foreclosure in any of the cases described in paragraph (b) or (c)
of subsection 1, nothing in this section shall be deemed to prohibit:
(a) The tenant from vacating the property at any time
before the expiration of the notice period described in subsection 2 without
any obligation to the new owner of a property purchased pursuant to a
foreclosure sale or trustee’s sale; or
(b) The new owner of a property purchased
pursuant to a foreclosure sale or trustee’s sale from:
(1) Negotiating a new purchase, lease or
rental agreement with the tenant or subtenant; or
(2) Offering a payment to the tenant or
subtenant in exchange for vacating the premises on a date earlier than the
expiration of the notice period described in subsection 2.
7. This section does not apply to the
tenant of a mobile home lot in a mobile home park.