Long-term lease...what happens if the owner dies?

[VinnieK]

Hi 

I'm interested in a long-term lease of some land 

The owner is in her 70s

What happens if she dies before the lease expires?

Lease continues as normal or expires also?

Thanks

 

 

[Kwasaki]

Who ever is intitled to have ownership of the land after her will have to agree to abide by the term agreed usually 30 years max and then you will have opportunity to extend, that's what should be in the uthur strus agreement not correct spelling but similar said.

 

Ads keep coming across mobile phone page difficult to write. 

[blackcab]

If the lease is correctly registered on the back of the land title deed (as is required for any lease over 3 years in duration) then you will have a real property right. This means the executor and any beneficiary of the deceased's estate will be bound by the terms of your lease. You will be able to enjoy the land for the full duration and for the same cost as agreed in your lease.