Asked by
Brylee Pritchett
on Nov 10, 2024Verified
Because a tenancy is primarily contractual and so does not "run with the land," it will not bind a purchaser of a building.
Primarily Contractual
Pertaining mainly to agreements made between parties that are enforceable by law.
Run With The Land
Legal principle indicating that certain rights and obligations attached to a piece of land transfer with the property from one owner to the next.
Purchaser
A person or organization that purchases products or services.
- Identify the rights and obligations of parties in mortgage and lease agreements.
Verified Answer
AV
Learning Objectives
- Identify the rights and obligations of parties in mortgage and lease agreements.
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