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Commercial Litigation Insurance Law Insurance Litigation Landlord Tenant Law

COVID-19 and Lease Negotiations: Casualty Provisions

First in series of articles that will examine specific aspects of the COVID shift in which commercial lease negotiations are seeking protection against unlikely events. Part 1 focuses on casualty provisions.

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The COVID-19 pandemic’s immediate effect on commercial leasing was obvious. Businesses, compelled by executive orders to reduce in-person operations or even to cease operation altogether, looked for relief from their rental obligations. Commercial landlords, who were subject to a state-ordered eviction moratoriums but no corresponding state-ordered mortgage forbearance, faced the prospect of losing the income they needed to support ongoing expenses such as mortgage payments, taxes, insurance, and maintenance costs. Landlords, tenants, and insurance companies are still negotiating and litigating over how that financial impact should be apportioned.

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