As always, the terms of the lease agreement are a vital consideration in any discussion thereof. As par of course, your lease agreement should contain a clause that transfer of the property does not end the lease, but substitutes the new title holder in place of the lessor. Yet, the period of limbo after a lessor’s death may give one cause to doubt.
Once an executor is appointed to the estate, they will tend to the administration thereof, as well as any transfers that must be effected should the successors choose to inherit, or a third party choose to purchase the property from the estate. At this point, all rights and obligations belonging to the lessor transfers to the new title holder.
However, should the lease specify that it shall terminate upon the death of the lessor, this clause shall inevitably apply. The tenant should, in these cases, be given a reasonable amount of time to find alternate accommodation before vacating the property.
To preserve certainty in these matters, the importance of a thorough examination of your lease agreement cannot be overstated.