Tag Archives: lease option contract

Signed a lease option contract but the owner died. Will I need to negotiate a new contract with new owner?

My company signed a three-year lease/option contract for a building that was owned by a widowed women. But before we could initiate the option to buy she died one year later. Her only daughter later on inherited all her assets and told us we must signed and negotiate a new contract. Do we have to negotiate a new contract or do she have to honor the contract that we had singed with her mother before she died?

Similar Stories