True or false: If the property manager dies, all property management agreements are terminated.

The statement is true because property management agreements are typically tied to the property manager's personal involvement and authority. When a property manager passes away, there is often no legal entity or individual to continue fulfilling the responsibilities outlined in the agreement, which can include managing tenant relationships, overseeing property maintenance, and handling financial transactions.

Generally, property management agreements do not automatically transfer to a new manager in the event of the manager's death unless there are specific provisions for succession within the agreement itself. Therefore, the death of the property manager generally leads to the termination of the agreement, as the necessary parties to uphold the terms of the agreement are no longer available.

In assessing other possible answers, the notion that all agreements terminate only if there is no successor overlooks the fact that the agreements are made with a specific individual in mind. Without a designated successor or mechanism to appoint a new property manager, the agreement naturally concludes upon the death of the manager. The context of only active tenants or various conditions being tied to the termination also does not align with standard practices in property management agreements.