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<p class="MsoNormal">Colleagues,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In 1966, decedent entered into a Contract and Pledge giving decedent the right to lease and possess a parcel of undeveloped land at Lake Cushman subject to the terms and conditions of the Contract and Pledge and a related Lease, which was
executed along with the Contract and Pledge. The lease term is from 1966 to 2064 and, as such, was recorded with the Mason County Auditor’s Office. The Contract and Pledge states that the Contract and Pledge cannot be assigned in whole or in part, either
by operation of law or otherwise, without the prior written consent of the Seller. Similarly, the lease states that it cannot be assigned without the prior written consent of the Lessor. Decedent passed in April 2022, leaving his entire estate to son (the
PR) and daughter. What do I need to do, if anything, to transfer the Contract and Pledge and Leasehold interest in the property to son and daughter? Inheritance isn’t a per se assignment. Does transferring the Contract and Pledge and Lease from the estate
to the son and daughter require the prior written consent of the Seller and Lessor, respectively? Or can the PR simply execute and record a document (if so, what?) transferring the Contract and Pledge and Lease to the son and daughter?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you in advance,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt;font-family:"Cambria",serif;color:#203864">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black">Fordham Law, PLLC</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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