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Tribune News Service
Tribune News Service
Business
Gary M. Singer

Real estate Q&A: What happens now with contract to buy property in path of hurricane?

Q: We are under contract to buy a property in the path of the recent hurricane. What happens now? — Anonymous

A: Whether it is a hurricane or any other natural disaster, you need to review the purchase contract.

The first clause to look for is often called the “force majeure” clause. Force majeure is loosely translated to “greater force,” referring to casualties caused through no fault of the parties. This can mean natural disasters, like hurricanes, or issues caused by fire and other man-made calamities that cannot be overcome.

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