Statement of Reasons for Forfeiture
by admin
on November 8, 2011
Forfeiture of residential leases
A lease is a legal document under which one party agrees to rent property from another party. There are two parties to contracts, namely a lessor and a lessee. The lessor is guaranteed regular payments for a specified period of time. A residential lease is a contract between a landlord and a tenant exclusively for residential purpose. It gives right to a tenant to use the property for housing purposes and in exchanges pays the stipulated rent.
The contract states a clause which allows the landlord to forfeit the lease contract if the tenant defaults to abide with the obligations stated. Forfeiture of a residential lease is a complex area of law and talks about the landlord’s right of removal of tenant from the premises. There may be several reasons for forfeiture and it is clearly stated in the statement of reasons for forfeiture which is served to the tenant when he fails to carry out his obligations.
If the landlord wishes to forfeit the contract he has to apply to court for an order authorizing the same. During the proceedings, the tenant can be given a relief. If not, he would be made liable to pay for the legal costs as well as the outstanding rent within the stipulated time. Following is the specimen of a statement of reason for forfeiture. :
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