Rental Property sold what about our deposits?

By confused

I have been renting my current apartment for almost 2 1/2 years now and recently our landlords sold the property.  The new owners did not assume liablity for our security deposit of $250 and the previous landlord when asked said "oh, that’s right, if you clean your apartment when you move out you’ll get $50 back".  The thing is, what happens to the rest of my deposit?  I have looked through the code about renter’s rights and security deposits and it seems to me it is illegal for landlords to just keep the deposit when the buildings have sold unless they transfer to the new owner.  The previous landlords were wonderful people but I’m wondering what to do–my fiancee thinks we should take them to court but was wondering what the law is about refunding the security deposits–am I not entitled to my $250 back since they did not transfer to the new owners and the new owners are not assuming any liability for it?

Any help would be appreciated.

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