Q: Our mom died now my sister and I are the equal owners of her trust. I have a 25 year contract to farm the almonds
The lease states: “if the property is sold during the term of the lease the lease shall terminate and the lessee shall be entitled to the sum of $5000 per year for all years remaining on the lease as liquidated damages.”
If I buy the property before the lease is over does the trust owe me money because of the early out?
You should have an attorney review the lease, the contract, and the trust, as well as other real estate documents.
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A: You don't say with whom you have a lease. If you inherited the lease from your mom, it wouldn't make sense for your mother to lease the land from herself. If you had a lease with your mother, it is possible that you are owed that money from the trust, but a lawyer would have to read the lease and the trust in order to give you a proper response. The reason is that terms are defined in contracts to mean specific things so if we use the plain English definition of those words, we will get a different answer than if we use the definition the contract provides. Sorry about that! Best wishes.
Lubna Khan Jahangiri agrees with this answer
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