Do I Have to Honor a Lease on Property I Inherited?
The contract terms will determine whether the contract is binding on you or not. For example, you will have to honor the lease if it contains a successor clause similar to the following:
“The rights and obligations of the parties to this agreement will be binding on, and will be of benefit to, each of the parties’ successors, assigns, heirs and estates.”
"This agreement shall be binding upon and inure to the benefit of the parties and their respective legal representatives, executors, heirs, administrators, successors and assigns"
In that case, you may be able to negotiate with the lessees to terminate the lease. We suggest you read the lease terms carefully to determine your rights and obligations in regard to terminating the lease, as well as those of the other party.