Does Buyer automatically assume seller's service agreement if contract doesn't specify?

I bought an apartment complex. Seller came to us when they found out that they can't terminate trash service due to their contract with the trash company without paying penalty. I searched in the sales contract and didn’t find specific about buyer need to take over seller's service agreement other than following. Does any of those refer to seller's service agreement? If not, do I as buyer assume service contract automatically?
(3) Seller's interest in all leases, rents, and security deposits for all or part of the Property;
(4) Seller's interest in all licenses and permits related to the Property;
(5) Seller's interest in all third party warranties or guaranties, if transferable, relating to the Property or
any fixtures;
(6) Seller's interest in any trade names, if transferable, used in connection with the Property
In Buying Property - Asked by Ada W. - Sep 22, 2014
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Answer(s)

Michael C.
Broker/Agent
San Leandro, CA

Non legal opinion:
No, not automatically, your information does not indicate "service contracts" they could have assigned the contract to you in escrow or you could have formally taken over the contract with the service provider company. In addition to the contract, review your escrow papers and check with the escrow company about this.
Their (seller) name is still on the contract and they indicated they are still bound by it.
What to do? Take over the contract in writing if you want? Have them pay you to take over their contract and release them? Check with a broker or attorney in your area for real estate or legal advice to be safe.

Sep 25, 2014
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Mark and Paul B.
Broker/Agent
Pocatello, ID

These laws vary from state to state and on how you purchased the property, like Michael C. I would recommend making a quick call to an attorney, should be an easy answer for them to give out real quick.

Oct 2, 2014
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marco o.
Broker/Agent
Saugus, MA

From what you stated # 5 puts you on the hook if contract is transferable to new buyer try to negotiate a new price for trash removal maybe you'll save some cash

Oct 9, 2014
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Sam P.
Redlands, CA

I've had clients with a trash service agreement that provides a fee for terminating the service before the end of the term. Unfortunately, it was agreed to by the clients. In your situation, it was the seller that has the agreement with the trash company and not you, as the buyer. The buyer does not automatically become a party to the trash service contract of the seller. The buyer must enter into a new contract with the trash company.

May 11, 2015
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