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 Lease
State:
Maine
Control #:
ME-00470-11
Format:
Word;
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FAQ
Can a tenant forfeit a lease? Forfeiture is a term which relates specifically to a landlord's right to recover possession of the property. The tenant may, however, have certain rights to terminate a lease (for example, break clauses, termination on insolvency or under statute).
A forfeiture clause is a common clause in a commercial property lease and can allow the landlord to forfeit (i.e. terminate) the lease where the tenant is in breach of their obligations.
There are two ways for a landlord to forfeit a lease. Physically taking back possession of the premises (often described as 'peaceable re-entry') and issuing and serving proceedings. Peaceable re-entry is often favoured by landlords, but it ought to be viewed with caution.
Many real estate contracts also contain a forfeiture clause. This clause states that when a person buys a property, the contract is an obligation to make installment payments on the note. If the borrower should fail to uphold their end of the purchase contract, the seller may end the agreement and seize the property.
For a lease of commercial property, a landlord can affect this right to forfeit a lease by peaceable re-entry or by issuing court proceedings. To peaceably re- enter, a landlord changes the locks and puts up notices to inform the tenant that the lease has been brought to an end.
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A commercial landlord has the right to forfeit a lease where a tenant is in breach of a covenant. The right must be conferred expressly: there must be a 'forfeiture clause' or a 'proviso for re-entry'.A provision in an installment land sale contract that permits the seller, upon the purchaser? The complete enjoyment thereof, as in the recent case of Parrott v. In some cases, it can be argued that forfeiture is implied in a lease without a specific forfeiture clause, but this is rare.
