Have 9 months left on 2 year lease and owner has sold the property. Is the new owner obligated to honor lease?

The lease granted you an interest in the Subject Property.  Therefore the new owner/landlord most likely has purchased the property subject to your Lease and will be obligated to honor the lease on the same terms therein, unless there is a provision in your lease agreement which states that the Landlord reserves the right to terminate the Lease upon sale of the property (highly unusual).  However if you are a good tenant who keeps up the property, the Landlord will most likely want to keep you as a tenant.