Legal Question in Real Estate Law in California

None. Leased properties, both commercial and residential, change hands all the time without notice to the tenants and often without the tenants even knowing the identity of the owners, prior or subsequent. The tenants just go on making rent payments to the manager. There are some exceptions, however; Civil Code section 1950.5(h) provides that, upon the sale of a residential property, the old landlord must transfer the tenants' security deposits and notify the tenants of the new deposit holder's name, address and telephone number.

Perhaps you mean to ask what notice a new owner must give if he/she/it wants to terminate the rentals or leases of the existing tenants. If the tenants have a lease, the new owner is usually bound to the terms of the lease, just like the old owner. If the lease has three years and six months to run, the tenants can remain for three years and six months. If the rental is a month-to-month residential situation, the tenants are entitled to 60 days' notice if they have been there over a year, otherwise, 30 days, per Civil Code section 1946 and 1946.1.

Your Zip code suggests that you are in Chicago, but asking about California law, and my answer is based on California law.

I agree with Mr. Whipple.