In the absence of an express forfeiture clause, a lease will be forfeited due to failure to make delay rental payments?

Prepare for the Ohio Certified Professional Lease and Title Analyst (CPLTA) Test. Use flashcards and multiple-choice questions with detailed hints and explanations. Ace your exam!

In the context of lease agreements and specifically regarding delay rental payments, a lease will not automatically be forfeited simply due to the failure to make these payments when there is no express forfeiture clause. A forfeiture clause explicitly outlines the circumstances under which a lease can be terminated or forfeited due to breaches such as non-payment.

Without such a clause, the landlord generally does not have the automatic right to terminate the lease. Usually, landlords must follow specific legal processes to address non-payments, which may include providing notice and an opportunity to cure the default. This approach protects the lessee's rights and ensures that any potential for forfeiture is handled according to the terms agreed upon in the lease.

In practical terms, while delay in rental payments can lead to other consequences, such as late fees or damages, it does not equate to an automatic end of the lease. Consequently, the correct understanding is that without an express forfeiture clause, failure to make delay rental payments will not lead to an automatic forfeiture of the lease.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy