check pages 23 and 46 for more info.
http://www.dca.ca.gov/publications/l...k/catenant.pdf
better yet here's some detail:
LANDLORD’S SALE of THE RENTAL UNIT
If your landlord voluntarily sells the rental unit
that you live in, your legal rights as a tenant are
not changed. Tenants who have a lease have
the right to remain through the end of the lease
under the same terms and conditions. The new
landlord can end a periodic tenancy (for example,
a month-to-month tenancy), but only after giving
the tenant the required advance notice. (See
“Landlord’s notice to end a periodic tenancy,”
pages 48–49.)
The sale of the building doesn’t change the
rights of the tenants to have their security
deposits refunded when they move. Pages
60–61 discuss the landlord’s responsibility for
the tenants’ security deposits after the rental
unit has been sold.