Terminating a lease is a serious step that requires strict adherence to legal procedures to avoid disputes or penalties. Here’s a guide for landlords on how to do it correctly. Grounds for Termination Landlords can terminate a lease for various reasons, including: Step 1: Issue a Notice to Remedy Breach Before terminating, landlords must issue a notice to remedy breach, giving…
When a tenant breaches a lease agreement, landlords may face financial losses. One form of compensation they can seek is loss of bargain damages, but what does this entail, and when is it applicable? What Are Loss of Bargain Damages? Loss of bargain damages compensate landlords for the financial loss incurred when a tenant fails to fulfill their lease obligations. This…
Buying your first home is a significant milestone, but it can also be a complex process filled with legal hurdles. Understanding the legal steps involved can save you from costly mistakes. Step 1A: Understand the Contract of Sale The contract of sale is a legally binding document outlining the terms of the property purchase. It includes details about the price, deposit…
