Gross

Real party in interest purchased the subject premises at a trustee’s sale, conducted pursuant to a power of sale contained in a deed of trust, and thereafter brought an unlawful detainer against the existing tenants, petitioners, for restitution of the premises. Petitioners defended on the basis that none of the grounds to evict under a local rent stabilization ordinance existed. The municipal court, deciding for real party, concluded that the rent stabilization ordinance was preempted by state law and on appeal the superior court affirmed this judgment. Petitioners seek mandamus from this court to compel the superior court to vacate its decision affirming the judgment of the municipal court and to enter judgment in their favor. The writ of mandate shall issue.

Facts

Real party in interest, Victoria Mews Consortium, a California corporation, is engaged in the construction and sale of new condominiums. The subject premises, a condominium, was sold as a new unit. Real party in interest received a note secured by a deed of trust, recorded May 11, 1979, as part of the consideration for the sale. The debt secured by this note was junior to a loan from an institutional…