You get your permanent back.
800.4. Unlike two-player games, multiplayer games can continue after one or more players have left the game.
800.4a. When a player leaves the game, all objects (see rule 109) owned by that player leave the game, any effects which give that
player control of any objects or players end, and all spells and
abilities controlled by that player on the stack cease to exist. Then,
if there are any objects still controlled by that player, those
objects are exiled. This is not a state-based action. It happens as
soon as the player leaves the game. If the player who left the game
had priority at the time he or she left, priority passes to the next
player in turn order who’s still in the game.
Check out this related question for some more info: In Magic free-for-all multiplayer, what happens when someone dies?
Example: Alex casts Bribery, which reads, “Search target opponent’s library for a creature card and put that card onto the battlefield under your control. Then that player shuffles his or her library,” targeting Bianca. Alex puts Wall of Wood onto the battlefield from Bianca’s library. If Bianca leaves the game, Wall of Wood also leaves the game. If, instead, Alex leaves the game, Wall of Wood is exiled.– Colin D Apr 02 '13 at 18:19Then, if there are any objects still controlled by that player, those objects are exiled.Basically you undo any existing control changing functions that give that player control, if they still control something then that object gets exiled. – Guvante Apr 03 '13 at 01:15Briberyexample above. – Colin D Apr 03 '13 at 21:31