Why are notice provisions in a real estate contract important?
A notice provision is a clause set forth in a contract which sets forth how and where the parties to same are to receive notices as may be required during the term of the contract. A notice provision is important in a real estate contract because it will set forth the exact method by which the seller, buyer and their agents are entitled to receive any notices as provided by the contract. It may also determine when such notices are deemed received. This is important because this can set certain time limits running under the contract. It is also important because if the notice provision is not exactly complied with, the notice may be deemed defective, thereby giving the opposing party an opportunity to dispute your notice.
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