Legal Question in Real Estate Law in New Jersey

The answer regarding your question about the language "all references to automatic waivers in regards to time periods shall be deleted," what does this mean," is the following:

This language is typically seen in a real estate transaction. You probably read it in an attorney review letter modifying a real estate contract. It means that no failure to perform by a time period set forth in the contract can be triggered by inaction, written notice must be given before a breach would occur. If you have an attorney representing you, these types of questions should be directed to him or her. If you have not hired one, I strongly suggest that you do so. You may call my office for assistance. Best regards, Keith Singer, Esq. 732-749-3700

I agree. Formal, actual notice of default or failure to perofrm must be given - no automatic waiver of notice is now provided for in the agreement.