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.
South Carolina Default Remedy Clause
Category:
State:
Multi-State
Control #:
US-OL14031
Format:
Word;
PDF
Instant download
Description
How to fill out Default Remedy Clause?
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FAQ
Code Ann. §40-59-810-860, homeowners have 90 days to notify the construction company in writing of any defects found on their property that appear to have originated during construction or work. The construction company then has 30 days to offer a financial settlement or to repair the defect themselves, free-of-cost.
Joint Tenants with Rights of Survivorship: Created by SC Code §27-7-40. Upon the death of one owner, the death certificate is filed at the courthouse and that owner's interest automatically passes to the surviving owner(s).
South Carolina law permits creditors to execute bank levies against debtors, but exempts certain types of accounts and monies from seizure. The procedure in South Carolina to obtain funds in an account is usually via a supplemental hearing in state Equity Courts to enforce a civil judgment against a debtor.
The notice must tell you that you are in default and that you have 30 days to cure the default. The Right to Cure Notice says that if you do not get caught up on your payments, ?cure your default,? the bank can begin foreclosure proceedings to take your house.
If you fail to make a required payment on time, the lender must send you a "Notice of Right to Cure" the default. This Notice can only be sent once you are more than ten days late and it gives you 20 days to catch up your payments.
You have the right to get the notice just once per 12 month period. After sending the ?right to cure? the lender must wait for an additional 20 days for you to cure the default. If you have not cured the default by the end of the 20 days, the lender may repossess the vehicle.
After you are 10 days late on your payment, the lender must send a Notice of a Right to Cure in the mail (unless your lender is a credit union). This notice should give you 20 days to repay what you owe them before they can take the car.
Statute of Limitations in South Carolina In South Carolina, the statute of limitations for most types of consumer and business debt is three years.
