Q: If I sign a lease agreement in Puerto Rico for reusable energy for 25 years and I die does the lease agreement stops?
I want to know if my family are obligated to continue paying my lease agreement if I die in Puerto Rico. Property is not involved. Energy service.
A: As a general rule, when a person dies, his/her estate is made up of that person's assets and outstanding obligations (liabilities). As contracts go, usually, the death of one of the subscribing parties terminates the contract. Nevertheless, the lease contract should be revised to determine whether a provision exists for successors and heirs; in which case, those of your heirs that accept their inheritance of your estate would assume the obligations for the lease agreement (maybe). It comes down to determine what the contract's termination clause states.
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