Kentucky Embalmer and Funeral Director Laws Practice Exam

The requirement that a seller must provide a specific number of days for a purchaser to cure a default is based on Kentucky’s laws regarding contracts and obligations within real estate transactions. When a purchaser is 60 days behind on payments, the seller is obligated to allow a cure period to remedy the situation before any further action can be taken, such as cancellation of the contract or foreclosure.

In this case, the law specifies that the seller must provide a 30-day notice period to the purchaser, allowing them time to bring their payments up to date and remedy the default. This ensures that the purchaser has a fair opportunity to correct the situation before the seller proceeds with more severe actions.

By mandating a 30-day cure period, the law aims to facilitate communication and potential resolution between the parties, which is beneficial to both the seller wanting to preserve the contract and the purchaser facing financial difficulties.