This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Often, leases include renewal or extension provisions (Miller & Hollowell, 2011). The tenants heirs inherit the lease and can fulfill its term. (A lease passes to a tenants heirs as personal property.) This rule protects the landlords interest, which is to realize the full benefits of the lease, and the tenants 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...
View Full Document
- Winter '12