Posted by Squidly TX on July 13, 2005 at 17:29:55:
Read your lease and look for a section that says “Heirs and Assigns” or something to that effect. You?ll be looking for wording such as this:
HEIRS AND ASSIGNS: It is agreed and understood that all covenants of this lease shall succeed to and be binding upon the respective heirs, executors, administrators, successors and, except as provided herein, assigns of the parties hereto.
This will tell you if your lease is binding upon transfer of ownership. If it?s a standard lease, it should still be binding, and all renewals should remain unchanged.