Notice of Default

News & Analysis as of

Does Your Notice of Default and Right to Cure Letter Comply with Maine Law?

The Maine Law Court’s recent decision Bank of America, N.A. v. Greenleaf, 96 A.3d 700 (Me. 2014) has drawn significant attention to the issue of a mortgagee’s standing to foreclose a mortgage it holds by assignment from...more

Nevada Supreme Court Determines That Guarantor Cannot Waive Right to Receive a Notice of Default, but Substantial Compliance With...

Schleining v. Cap One, Inc., 130 Nev. Adv. Op. 36 (May 29, 2014), arises out of a loan to purchase an undeveloped piece of property, which was guaranteed by the principal of the borrower. After the borrower defaulted, the...more

Lenders Can Prepare for Tenant Offset Rights in SNDAs

Tenants’ limited recourse to their landlords has made “offset rights” a major issue in negotiating Subordination, Non-Disturbance and Attornment Agreements (SNDAs). Tenant offset rights arise when the tenant has the...more

Mainebiz Real Estate Insider – Tips for Tenant Defaults & Terminations

When a tenant defaults in payment of rent, or other terms of the tenancy, tempers flare. Landlords and tenants may make exaggerated allegations or rashly give notices via cell phone, text or email. As a commercial or...more

Default Notices and Freehold Leases: Take Two

There may be a sign that last year’s dire consequences for a freehold oil and gas lessee who does not quickly respond to a default notice by commencing legal proceedings may be moderating somewhat, at least in certain...more

Termination for Convenience - An Unfettered Right. Discuss.

Does there need to be a reason for termination? In addition to a party’s right to bring a contract to an end at common law, most engineering and construction contracts contain provisions allowing the parties to terminate...more

Ninth Circuit Holds Repeated Erroneous Default Notices Can Be ECOA “Adverse Action"

On July 3, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit held that a mortgage servicer’s alleged repeated delivery of notices of default and acceleration to borrowers who were current on their...more

Ace in the Hole: NY Court Gives Hotel Owner New Way to Oust Hotel Manager and (Re)Claim Management of the Property

A recent decision of the New York state appellate court has given hotel owners a new way to override contract provisions in long-term property management agreements and oust hotel managers from managing the property. In...more

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