This Notice of Intent to Enforce Forfeiture Provisions of Contract for Deed is an initial notice of Seller's intent to enforce the forfeiture remedy of contract for deed if nonpayment or other breach is not cured. It is used specifically to inform the buyer that he/she has failed to meet the terms and conditions of the Contract for Deed and as a result, are in default based upon the reasons specified.
Forfeiture Provisions In A Long Lease
State:
Maine
Control #:
ME-00470-11
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Word;
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Forfeit or forfeiture means losing a right, privilege, or property without compensation as a consequence of violating the law, breaching a legal obligation, failing to perform a contractual obligation or condition, or neglecting a legal duty. Under federal law, there are civil, criminal, and administrative forfeitures.
Forfeit or forfeiture means losing a right, privilege, or property without compensation as a consequence of violating the law, breaching a legal obligation, failing to perform a contractual obligation or condition, or neglecting a legal duty.
1 : the act of forfeiting : the loss of property or money because of a breach of a legal obligation assets subject to forfeiture. 2 : something (such as money or property) that is forfeited : penalty.
Addendums can also be used to add additional provisions or modifications to a lease agreement after the lease has been signed, instead of executing a new agreement. Most lease agreements will state that addendums are allowed, legally binding, and subject to the same provisions within the lease agreement.
A forfeiture clause in real estate is a seller's remedy that allows a seller to take back property purchased on a land installment contract if the buyer defaults on payments.
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Forfeiture Clauses1. Is this a forfeiture clause?Forfeiture. Anyway, back to the plot forfeiture! Most leases will contain a forfeiture provision. A right to forfeit can be implied into a lease in certain circumstances, but most leases will include a specific forfeiture clause. Generally, the landlord cannot require you to forfeit your entire security deposit. §188. Failure to comply with provisions of lease.
