Default on Commercial Lease

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Commonly Asked Questions about Default on Commercial Lease

What is a lessee default?

Lessee Default means any default by the applicable Lessee in payment of a total of three months of rent pursuant to such Lease, and such default remains uncured for more than 120 days from the original due date of the latest payment resulting in a total of three months of rent remaining unpaid.

What is the difference between default and bdocHub of lease?

Blacks defines bdocHub as a violation or infraction of a law, obligation, or agreement, especially of an official duty or a legal obligation. It similarly defines default as the omission or failure to perform a legal or contractual duty. While those definitions may suffice in common parlance and many areas of the

What are a landlords basic remedies for tenants default under a commercial lease?

A landlords basic remedy/remedies for tenants default under the lease is/are:1) sue the tenant for performance. 2) terminate the lease and sue for damages. 3) dispossess the tenant without termination of the lease and sue for damages.

What happens if you default on a leased car?

Under California law, consumers who fall behind on their lease payments are not entitled to any grace period. This means that a lender can repossess your vehicle even if you are only one day late on your payments.

What does default on a lease mean?

A default is a failure to comply with a provision in the lease. Curing or remedying the default means correcting the failure or omission. A common example is a failure to pay the rent on time.

What does it mean to default on an agreement?

A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law.

What happens if you default on a business lease?

Most commercial leases state that if a tenant fails to pay the rent after written notice from the landlord, the bdocHub becomes a default and the landlord can then sue for damages and eviction of the tenant.

What is a default provision in a commercial lease?

Commercial leases require an effective default clause that allows the landlord to force a tenant to comply with all lease obligations. The default clause commonly provides the procedure for obtaining an eviction or the threat of an eviction for a commercial tenants violation of the lease.