Legal Question in Real Estate Law in Virginia
Farm Lease
I have offer to purchase farmland. Tje land has ebeen leased to a farmer and has 4 years and 4 months remaining under the lease agreement. There is a clause in the lease which states ''Effect of Lease: The terms, covenants and conditions of this lease shall bind, and imure to the benefit of the heirs, successors, assigns and personal representatives of the Lessee and any such successor in title to the Lessor.'' Do this clause prohibit sale of the property if the buy do not want to honor the lease? What can I do?
Asked on 7/20/09, 8:07 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Re: Farm Lease
No, the land could be sold, but the new owner would take title subject to the lease and be legally obligated to abide by its terms until its stated expiration date.
Answered on 7/21/09, 10:22 am