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Unformatted text preview: Often, leases include renewal or extension provisions” (Miller & Hollowell, 2011). The tenant’s heirs inherit the lease and can fulfill its term. (A lease passes to a tenant’s heirs as personal property.) This rule protects the landlord’s interest, which is to realize the full benefits of the lease, and the tenant’s interest, which is also to realize the benefits of the lease. Of course, both parties must continue to abide by the terms of the lease. Reference: Miller, R. & Hollowell, W. (2011) Business Law, Text and Exercises (6 th Ed.) Mason, OH: South-Western Cengage Learning...
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This note was uploaded on 06/11/2012 for the course BUL 2131-3 taught by Professor None during the Winter '12 term at Everest University.
- Winter '12