Announcement

Collapse
No announcement yet.

Question about Lease contract.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Question about Lease contract.

    The ranch that I have leased for hunting the last twenty eight years might be sold after the owner passed away. The grandson was running it but he is now moving on to greener pastures I suppose. Other family members are now in the mix and they want it sold.
    My question is I have a three years left on my lease with a renewal clause at the end. If they sale will my lease convey with the sale ? No verbiage in the contract that says the lease will convey with sale.

    #2
    Leases usually terminate when property is sold unless specifically stated otherwise

    Comment


      #3
      Originally posted by systemnt View Post
      Leases usually terminate when property is sold unless specifically stated otherwise
      And death should terminate it as well, outlook not so good. Hopefully new owners won't be hunters

      Comment


        #4
        I'm sure the lease contract was with the passed owner, not present, not going to be worth anything, JMO of course.

        Comment


          #5
          I was afraid of that. Dang and we have done so much on that ranch to improve it. My bad to just trust the status quo and not have a lawyer write the contract.
          Hopefully the kids will allow me to put a conveyance clause in the contract.
          Talking to them this weekend. Wish me luck !

          Comment


            #6
            Part of leasing unfortunately.

            Comment


              #7
              start shooting...

              Comment


                #8
                Originally posted by TENRMORE View Post
                start shooting...
                I like your style.

                Comment


                  #9
                  Is the lease recorded? If not, get it recorded. If it's an enforceable lease and the buyer has notice that the lease exists, it runs with the land and will not terminate upon sale. Feel free to PM me and you can shoot me a copy of the lease and I'll look at it.

                  Comment


                    #10
                    Originally posted by The Crippler View Post
                    Is the lease recorded? If not, get it recorded. If it's an enforceable lease and the buyer has notice that the lease exists, it runs with the land and will not terminate upon sale. Feel free to PM me and you can shoot me a copy of the lease and I'll look at it.
                    I never recorded it.
                    It is my understanding that I will need to get a notary and have myself and the daughter sign before I can record it ?
                    I believe she will sign with me and she has POA.
                    Awesome of you to offer.

                    Comment


                      #11
                      Originally posted by The Crippler View Post
                      Is the lease recorded? If not, get it recorded. If it's an enforceable lease and the buyer has notice that the lease exists, it runs with the land and will not terminate upon sale. Feel free to PM me and you can shoot me a copy of the lease and I'll look at it.
                      The language of the lease will control. But it might not address change of ownership. Definitely record it in the county deed records. That puts prospective buyers on notice. Lots of folks won't want to buy a piece of property they can't hunt. This might get you a nice buy out.

                      LWD

                      Comment

                      Working...
                      X