A Notice of Intention to Make a Private Sale After Breach is a legal document used when a party in a contract has breached the agreement and the other party is seeking to make a private sale after the breach. This document serves as a warning to the breaching party that the non-breaching party intends to make a private sale of property or goods that were part of the contract. It also serves as a warning to third parties that the non-breaching party has the right to a private sale after the breach. There are two main types of Notice of Intention to Make a Private Sale After Breach: one for real property (real estate) and one for goods or personal property.
Notice of Intention to Make a Private Sale After Breach
State:
Multi-State
Control #:
US-0537SB
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Word;
Rich Text
Instant download
Description
Notice of intention to make a private sale after breach
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FAQ
A breach of contract demand letter is a notice to an individual or party that has failed to perform as specified under a previously agreed upon contract. The letter should identify the party that breached the agreement, date of the contract, and the specific actions conducted by the violating party.
The first way you can respond is, if you do not feel that you have breached the contract, to explain that you are not in breach of the cited clauses and give a factual explanation as to why you are still in compliance with the contract. The second way you can respond is to indicate your willingness to cure your breach.
This is a sample notice used by one party to an agreement to notify the other party that the other party has breached the agreement. The notifying party uses this notice to initiate a termination-related cure period.
A breach is a violation of law or when a party fails to perform their part of a contractual agreement. For more information, see breach of contract.
Generally speaking, there are four types of contract breaches: anticipatory, actual, minor and material. Anticipatory breach vs. actual breach.Minor breach vs. material breach.What's next: Types of remedies for broken contracts.
The most common material breach by buyers in real estate contracts is failing to follow through with a closing and not actually paying for and taking possession of the property as agreed to in the contract. When a buyer breaches a real estate contract, the seller may be entitled to monetary damages.
