by David Asker
12:15 PM, 3rd July 2015, About 6 years ago
If you are a commercial landlord, property lawyer, or commercial agent, you are likely to come across CRAR and forfeiture on a regular basis.
CRAR – Commercial Rent Arrears Recovery – is a remedy for commercial landlords to recover rent arrears from tenants where there is a written lease in place, without the need to go to court. Forfeiture is a Common Law remedy that allows the commercial landlord to regain possession of the property without going to court.
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