Warning of Default on Residential Lease Kentucky Form
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People also ask
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What is the default clause in real estate?
A typical default is as follows: "If the contract is terminated without purchaser's fault, the earnest money shall be returned to the purchaser, but if the termination is caused by the purchaser's fault, then at the option of the seller and upon notice to the pur- chaser, the earnest money shall be for- feited to the ...
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What is the 383.595 statute in Kentucky?
The 383.595 statute in Kentucky outlines the obligations of landlords and tenants regarding the maintenance of rental properties, specifying that landlords must keep the premises in a habitable condition and make necessary repairs.
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What is the default clause in a rental agreement?
Whatever the reason, the default clause protects the landlord from an unruly tenant. Most landlords use this clause to help them evict tenants that don't pay rent on time or allow other people to live on the property who are not on the lease.
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What does it mean to default on a lease?
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.
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What does "default" mean on a lease?
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.
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What is the default clause for a tenant?
The Default Clause in Lease Agreements Lease agreements often include a default clause, which outlines the actions to be taken if either party fails to meet their obligations. For tenants, this usually pertains to unpaid rent, while for landlords, it might involve the failure to provide a habitable living environment.
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What is an example of a default clause?
If the Tenant fails to pay rent when due and the default continues for the time-period specified in the written notice thereafter, the Landlord may, at their option, declare the entire balance (compiling all months applicable to this Agreement) of rent payable hereunder to be immediately due and payable and may ...
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What reasons can you break a lease in Kentucky?
Legal Justifications for Ending a Lease Early in Kentucky Uninhabitable Living Conditions. ... Active Military Duty. ... Early Termination Clause in the Lease Agreement. ... Landlord's Early Termination Process. ... Tenant's Early Termination Process. ... Military Duty. ... Uninhabitable Living Conditions. ... Domestic or Sexual Violence.
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