Legal Question in Real Estate Law in California

You generally are going to want to be in the house on the date of the foreclosure sale. There is a Federal law - the Protecting Tenants at Foreclosure Act of 2009. If you are a legitimate tenant in the property at the time of foreclosure, then the new buyer at the foreclosure must give you at least 90 days notice to leave the property. Generally, if a bank buys the property, not only do they frequently not collect rent during that 90 days, they will sometimes give you a "cash for keys" offer - to pay you money to leave earlier than the 90 days. Your landlord's notice is probably void after the foreclosure sale, but be careful and check to make sure it is actually sold on January 20, 2011, because if it is not, that 60 day notice may still be valid.

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I agree, except I think I'd say that if the sale doesn't go through, the notice will remain valid.

Take a look at http://www.suite101.com/content/renters-rights-under-the-protecting-tenants-at-foreclosure-act-o-a242194.

You are probably going to be better off with a lease for a specific term rather than a month-to-month arrangement.