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relativity of contracts

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1 relativity of contracts on Mon Aug 12, 2013 4:23 pm

i have a contract with Mr. T for the lease of a portion of his building. the contract is for one year. on the third month, Mr.T died. the post-dated checks for the payment of rentals were returned together with a letter from the wife asking that the payee be changed to her name instead since her husband died.

my question is, what's the proper thing to do so in order for us me to avoid future problems? I am of the opinion that the contract remains valid and binding even to the successors. will payment to the wife protect my interest? Is there a need to execute a new contract? Or, will payment to the wife plus execution of an acknowledgment receipt be enough to protect my interest in the leased property?

Thank you! and God Bless Smile

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2 Re: relativity of contracts on Tue Aug 13, 2013 1:20 am

Lunkan


Reclusion Perpetua
I don't know for buildings, but for long time leased land the contract is valid UNDEPENDING of who is owner (but can need registration, so the new owner had chance to know before he bought it, when it's a selling case.)

So I suppose in your case the contract is VALID, but the question is WITH WHO, so you don't pay to wrong person.

Do you know Mr T enough to know if the wife will inherit ALL?
Is there any inherit executor involved? If so, you better check with him who to pay to (Get it in writing.)
In any case you better get a contract, which refer to the contract you have allready, and tell who to pay to instead. Then you at least will have a document, which you can refer to, IF someone will claim you have paid to wrong person.

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3 Re: relativity of contracts on Fri Aug 23, 2013 3:40 pm

betan.mikki


Arresto Menor
emandelmo.asiaworld@gmail wrote:i have a contract with Mr. T for the lease of a portion of his building. the contract is for one year. on the third month, Mr.T died. the post-dated checks for the payment of rentals were returned together with a letter from the wife asking that the payee be changed to her name instead since her husband died.

my question is, what's the proper thing to do so in order for us me to avoid future problems? I am of the opinion that the contract remains valid and binding even to the successors. will payment to the wife protect my interest? Is there a need to execute a new contract? Or, will payment to the wife plus execution of an acknowledgment receipt be enough to protect my interest in the leased property?

Thank you! and God Bless Smile
no problem here, just make sure that all payment are accounted for.

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4 Re: relativity of contracts Today at 4:22 am

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