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It depends on the terms of the lease. The lease may terminate or the lease may "run with the land."
They die
You Will Die Immediately.
They will die.
we will all die
This is a line from a purchase or lease agreement fora piece of property. It implies that whatever option is being specified will remain with the property for subsequent purchasers and cannot be stricken from the agreement.
Children will die.
I'm not sure of what state you are in but I believe that in Baltimore, MD you have the right to purchase the property for the ground rent divided by .02 - .04 dependening on the date of the lease. You should have the opportunity to buy it at any point, you do not have to wait for a transfer or for the lease to run out. Hope this helps.
They die and their heads get crushed from pressure.
Just like in a sale, the tennancy (Lease) continues to run it's course. Only the owner (presumably, landlord) changes. (The lease "runs with the property"). The lender accepting the Deed in Lieu takes it subject to the existing lease, which (reading the agreement you'll make), you must tell them about. be prepared to have them insist you get signed documents from the tennent saying what if any deposits he has and status of rent, etc. They may be happy it comes with a tennent, or they may want to buy him out. More likely, a bank would be happy to take the proeprty with a tennent - who pays the rent - and have the cash flow.
Most leases have provisions for the owner giving notice if the tenants need to move. Usually it is 30 to 60 days and is written. Of course, it is more convenient to just not renew the lease. It may be cheaper and easier for you to move into an apartment in the interim and let the lease run its course.
You die in real life.