Notice Provisions In Real Estate Agreements

Most commercial real estate agreements contain a clause detailing how the parties are to give notice to one another if a notice needs to be sent under the agreement. Events triggering the need to send a notice might include waiver of a condition, extension of time periods, exercise of an option, or termination of the agreement. Notice clauses can become an issue if one party asserts that it was sent a notice that was not done properly or was not received in time. This risk underlines the importance of clear and unambiguous notice clauses.

The following are some technological and other "glitches" that may affect whether a notice was sent properly and received on time:

1. Notices sent by fax