Legal Question in Real Estate Law in California

Re: Owner selling house, I have a 1 year lease

The new owner takes the home subject to the lease. You likely will be month-to-month thereafter unless the new owner decides to move in. One option is that, if the new owner wants to move in before April, you can negotiate a buy-out paid through escrow.

Re: Owner selling house, I have a 1 year lease

The new owner takes the house subject to the existing lease, period. Unless the existing lease contains a provision that allows the new owner to modify or terminate the lease (which would be unusual), you will have a new landlord, but none of the other terms of the lease will change.

The selling owner must either return your security deposit, in which case the new owner can ask for a new deposit as set forth in the lease, or the seller can transfer your deposit to the new owner and they must then notify you that this has been done, so you don't get stuck paying two deposits.

It is commonplace for income properties to be sold during a lease; sometimes the lessees are not even aware that the property has changed hands. Leases would be meaningless if landlords could in effect cancel them by selling the building. Imagine the possibilities for abuse.