Need assistance with contract language

[Irving]

Here is the line in question:

11) This Lease shall run with the land and be binding upon and inure to the benefit of the parties hereto, their respective personal representatives, heirs, grantees,successors, and assigns.

With the definition of inure:

in·ure oohttp://static.sfdict.com/dictstatic/dictionary/graphics/luna/thinsp.pnghttp://static.sfdict.com/dictstatic/dictionary/graphics/luna/thinsp.pngr, ih-noohttp://static.sfdict.com/dictstatic/dictionary/graphics/luna/thinsp.pnghttp://static.sfdict.com/dictstatic/dictionary/graphics/luna/thinsp.pngr] Show IPA [/FONT]verb, in·ured,in·ur·ing.verb (used with object)1.to accustom to hardship, difficulty, pain, etc.; toughen orharden; habituate (usually followed by [I]to ): inured to cold.


verb (used without object)2.to come into use; take or have effect.

3.to become beneficial or advantageous.



So, am I correct in using #2 of the definition of inure, to interpret the line of this contract to mean that the contract can be ended by either party if the deal no longer benefits either of the parties?

[00tec]

I see it as you still have to pay the son/daughter/wife/husband of the other individual on the contract if the individual on the contract is dead.

However: it has been years since I stayed in a holiday inn

[TheGrey]

Hi Irving,

I did some Googling, and found this explanation as to the phrase "inure to the benefit of":

To pass into use; to take or have effect; to be applied; to serve to the use or benefit of; as, a gift of lands inures to the heirs.

Legalese...[Bang] Why couldn't they make it easier to understand?

[theGinsue]

Typical clause in contracts for land/homes for maintaining mineral or natural resource rights. In such cases, you get the land, but if oil, natural gas or gold etc. is found, the original owner & their heirs maintain the rights and you get nothing. It can also provide the right to the original owner/heirs to allow companies to come onto the property for exploration of said resources.

[Irving]

Interesting. This is in a contract for an on-site washer and dryer. We don't want to end this contract necessarily, just trying to familiarize ourselves with the contract and all the options.

[Great-Kazoo]

A W&D contract. How much does it cost to buy a set and be done with any outside obligation? Unless it's part of a rental agreement.

[Jumpstart]

Just put it in English, is easiest that way.

[Irving]

They pay me to have their units in there, plus they are insured for $1,000,000 for both Bodily Injury (BI) and Property Damage (PD), so we would not be losing any money by having the contract. If there is a problem with the machines, they come out and take care of it. I am sure we could buy our own machines and keep all the money, but then we'd have to deal with any issues. Right now it's not a big deal though.

[spqrzilla]

The lease is a lien on the real estate itself. That's all that line means. In other words, its not just binding the current owner, but all future owners as well. Sell the land, and the lease comes with it. That line does not mean that it can be terminated if one party no longer benefits from the lease.

[Irving]

Thank you. I thought that's what it meant, but wasn't sure.