Property Management
The Wisconsin 'right to cure' provision in a lease termination scenario gives the tenant:
AAn automatic right to terminate the lease at any time
BThe right to remedy (cure) a lease violation within a specified notice period before the lease is terminated✓ Correct
CThe right to sublet the unit without consent
DA right to purchase the property
Explanation
Wisconsin law (Wis. Stat.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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