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I’m considering the purchase of a 4-family house in Brooklyn that comes with 3 existing tenants. 2 are market rents, 1 is an elderly tenant with an interesting contract made at the time the house was sold 2 years ago (all info based on seller): The right to rent her apartment for $750/month (market is ~$2500) until 4/2010. Supposedly she is the mother of the former owner, has been living in the house before, but is not rent-regulated.
I’m considering to buy the house and use the owner’s apartment until 4/2010, then take over and renovate her space + combine it and the next floor into a duplex.

My question is: Is there a way to find out for sure whether she is rent-regulated or not, and – if she isn’t – to make it legally binding for her to move out next year as promised or take one of the other apartments in the house at market rent. I wouldn’t want to buy the house if there is a risk that she finds a legal basis to remain.