Greeley, CO asked in Real Estate Law for Colorado

Q: I am a new property owner by inheritance. A property management firm had a contract with previous owner.

Is that contract still valid?

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1 Lawyer Answer
James A. Greer
James A. Greer
  • Boulder, CO
  • Licensed in Colorado

A: Dear Inherited Property Owner: You asked if predecessor's contract for services (in this instance Property Management Services) is binding upon the heirs. The only way to answer this question is to examine the underlying contract entered into by your predecessors. If there is no contract, you may cancel. If there was a contract in place then we would need to examine the language for two things: (1) does the contract run to "heirs and assigns" ? and / or (2) are there automatic renewal provisions. I recommend seeking local counsel to give you 1/2 hour of review and advice.

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