I acquired a domain in an auction and now I found that the facebook page and twitter that the first owner created was made using the same domain like I acquired. Do I have the rights to own those pages as I can create a catch all mail and use the forgot password option to get their password easily. Can the first owner take any action against me or its my rights to own those?
Legally you do not owe those accounts, doesn't matter what email was used as you did not create the account nor have permission to access the account.
Truly agreed but now if i am using an account with the same email it won't let me register. It tells me account already created. You can click on forgot link if you have forgotten and an email will be sent to you. If i do that then!
I suppose at best a grey area would be to log in, delete and then create a new account but that account may still actually be in use.
There is no grey area. The accounts are legally not yours. Will the owner care? Probably not. If you want to be 100% certainly, let the owner know what you're doing and solve your problem easily - why wouldn't they agree?
Try contacting the previous owner and see if he is willing to give you those accounts. I mean, he doesn't need them anymore I'm assuming.
Yeah, you only purchased the domain name, so that is all you legally own now, nothing else related to the business.