(b) In addition to the rights set forth in subdivision (a), tenants or subtenants holding possession of a rental housing unit under a fixed-term residential lease entered into before transfer of title at the foreclosure sale shall have the right to possession until the end of the lease term, and all rights and obligations under the lease shall survive foreclosure, except that the tenancy may be terminated upon 90 days’ written notice to quit pursuant to subdivision (a) if any of the following conditions apply:

1. (1) The purchaser or successor in interest will occupy the housing unit as a primary residence.
2. (2) The lessee is the mortgagor or the child, spouse, or parent of the mortgagor.
3. (3) The lease was not the result of an arms’ length transaction.
4. (4) The lease requires the receipt of rent that is substantially less than fair market rent for the property, except when rent is reduced or subsidized due to a federal, state, or local subsidy or law.