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If Ann dies during the period of the lease, what happens to the leased property?
Depends on how the lease was written and if she had tenants insurance which would pay the rent if anything happened to her. [ If not her estate would still have a right to pay the rest of the rent until the lease terminates at which time the land lord would then have the right to take possession. ]
Expert answered|sipichapie|Points 3624|
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Asked 4/3/2012 3:48:24 PM
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can you assign the lease to another party? explain.
Weegy: You may be able to turn over (assign) your lease to another person. When you assign a lease, you move out permanently and a new tenant moves in for the rest of your lease term. [ This person is referred to as the "assignee." Both you and the new tenant will be responsible to the landlord for the condition of the apartment and the rent. Check your lease before deciding to assign. Many leases do not allow tenants tom assigning their lease. ... (More)
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Expert Answered
Updated 1/12/2013 11:09:25 PM
1 Answer/Comment
Yes , A lessee may assign a lease to a third party, or assignee. An assignment conveys all rights under the lease to the assignee for the remainder of the lease term, and the assignee assumes a contractual relationship with the original lessor. However, unless the lessor agrees otherwise, the first lessee still retains the original duties under the lease agreement until the lease expires. Generally, an assignment is valid unless it is prohibited by the lessor.
Added 1/12/2013 11:09:25 PM
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