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What is meant by forfeiture of a lease?

Forfeiture means the lease can be terminated and the property revert to the freeholder. This could arise if the leaseholder breaches the terms of the lease. An example could be a failure by a leaseholder to maintain their flat.

How do you foreclose on a land contract in Indiana?

The foreclosure process in Indiana is somewhat convoluted. The seller must first inform the buyer of the breach of contract. Then they have to file a complaint with the court and speed up the overall debt balance. After acceleration, the buyer has the opportunity to buy the property if he can repay the balance.

What do you mean by forfeited?

1 : to lose or lose the right to especially by some error, offense, or crime. 2 : to subject to confiscation as a forfeit also : abandon, give up.

What does it mean for a payment to be forfeited?

Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct.

What is forfeited amount?

Forfeited Amount means (i) the cash held in a Participant's Individual Fund Account, and (ii) the fair market value of the number of shares of Stock held in the Participant's Individual Shares Account, all determined on the last business day of the month following the month in which the Participant's Active Association ...

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