Q: Is a lease agreement become void after the death of the lessor w/ several months left on the term of a Living Trust?
The Trust gave a 50/50 split on the property. The lessees had an option to purchase the house at an agreed amount at the end of 3yrs. The lessor died before the end of the agreement. Do the inheritors of the house abide bye the original agreement, or is it null and void at the time of death of the trustor?
A: The successors are bound by the original agreement, unless the agreement says otherwise.
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