4/6/2023 0 Comments Letter of default on lease![]() Notice should always be required to be in writing it’s hard to prove a phone call occurred in court. – By mail (US Mail, certified, or registered) Notice can be delivered in different ways: If Tenant is locked out or doesn’t otherwise receive mail at the space, then notice may be legally delivered, but not actually received! Negotiation tip: don’t make the premises Tenant’s sole notice address. ![]() The commercial real estate lease should clearly state Landlord and Tenant’s address for notice. ![]() The defaulting party should be informed of default by the damaged party, so the offending party can take action to fix it- this is notice. It’s not fair to have consequences without knowing what the action is, right? That’s why notice is important. If Tenant has any default rights, they are often limited to actual damages or specific performance. ![]() Landlord remedies could be everything from hefty financial penalties to lockout to termination of the lease and suing for the monetary balance. If there is a default, then the damaged party can seek remedy. A breach, if not cured (fixed), can create an event of default. Sometimes Landlord or Tenant, either inadvertently or deliberately, don’t abide by the terms of the commercial real estate lease, resulting in a breach.
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