Chesapeake and Payment for Leases

I negotiated a lease with Chesapeake earlier in the year and my lease was recorded, but they have failed to make payment of my bonus payment to date (over 120 days). Has anyone else had this occur with Chesapeake? Just curious? If they don't take action soon, I will be in touch with my attorney to have that document removed.

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Permalink Reply by Jim Litwinowicz on July 19, 2012 at 8:48am

Look through your lease for a Curative Clause.  Depending on how it is written, it will state that you must notify them in writing of any failure to meet the lease requirements.  It will also state how long they have to cure the defect, usually 30 or 60 days.

That means that you must notify them that they are in breach of contract and that they have that specified time limit to cure the defect or you will cancel the contract.

Of course, it best to consult with an attorney and even have the attorney send the letter of breach of contract.

2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 19, 2012 at 11:29am

Or perhaps just pick up the phone and call Chesapeake and attempt to find out what the problem is.  Maybe you just fell through the cracks. 

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