Legal Question in Real Estate Law in California

You mention both a landlord and an owner. I'm assuming they are one and the same person, but that's not always the situation.

If the owner/landlord "walks away," you continue to be a tenant, in lawful possession, under your lease or rental agreement until either (a) the lease expires, (b) you are given proper notice of termination of a month-to-month rental agreement, or (c) someone with the right to do so evicts you, after notice.

Even if your right to remain in possession is challenged by a new owner, you may have a right to remain for the unexpired term of your lease under recent federal legislation.