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Check your rental agreement with the first owner, first. See if it covers this situation and if so, how you would proceed. If it doesn't, then you would pay your rent to the new owner, but you should also request a new rental agreement and make very sure that your security deposit is being held with the new owner. Also, if possible, let the new owner come into the rental and see the state of the unit. I had this situation happen to me and the new owner screwed me and my husband out of our security deposit because he said the place was left dirty, which it was not. He was not there for how we were given the unit and it was far dirtier when we moved in than when we left it. You might want to get a lawyer involved, if you can afford it, just to make sure your rights are protected and to make sure that the transfer of a new landlord goes smoothly. There are just as many bad landlords as there are bad tenants.

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Q: To whom do you owe rent if the owner of your property changes?
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