The annual arrival of hurricane season in Florida requires more than just a home readiness review: shutters, flashlights, batteries, etc. It is also the time to weather-proof your planned real estate transactions with a close examination of the requirements and deadlines of commercial (and residential) purchase and sale agreements.

While many Floridians or investors in Florida real property are focused on when the next hurricane will hit, sophisticated real estate parties should take steps to ensure that the uncertain effects of Mother Nature do not delay, cancel or cause uncertainty with respect to strict performance deadlines. While force majeure clauses and the definition of force majeure events have gained substantial notoriety amid the global pandemic caused by COVID-19, thereby causing parties to rush to their contracts and review these often overlooked provisions, force majeure clauses have been typically employed by parties to govern “Acts of God,” including the effects of Florida’s annual hurricane season. While force majeure may still be an option in your respective real estate contract, there are some preventative, anticipatory and cost-effective measures that parties can take that will ultimately save time, effort and money, while limiting the effect of Mother Nature on the deal.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]