This office lease form is a standard default remedy clause, providing for the collection of the difference between the rent due and owing under the lease and the rents collected in the event of mitigation.
Idaho Default Remedy Clause
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Multi-State
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US-OL14031
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FAQ
?Curing? or ?remedying? the default means correcting the failure or omission. A common example is a failure to pay the rent on time.
The court may not render judgment for more than the amount by which the entire amount of indebtedness due at the time of sale exceeds the fair market value at that time, with interest from date of sale, but in no event may the judgment exceed the difference between the amount for which such property was sold and the ...
45-1502. Definitions ? Trustee's charge. As used in this act: (1) "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest, and who shall not be the trustee.
Although about 60% of the US states are mortgage states, Idaho is considered a deed state. A deed of trust is an agreement between a beneficiary, grantor, and trustee. A deed is signed to a trustee as a form of security to ensure that the performance of obligation is fulfilled.
15-6-401. Community property with right of survivorship in real property. Any estate in real property held by a husband and wife as community property with right of survivorship shall, upon the death of one (1) spouse, transfer and belong to the surviving spouse.
(1) An action for breach of any contract for sale must be commenced within four (4) years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one (1) year but may not extend it.
The actions permitted by a contract and applicable law that a party may take to protect and recover its property interests in the event of default of another party to the contract are default rights and remedies .
Idaho law states that an agricultural commodity producer or dealer who sells or delivers agricultural products (such as hay, grain, corn, oats, straw, etc.) has a lien on those products and the proceeds from the subsequent sale of those products (Idaho Code § 45-1802).
