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Modernizing Real Estate Purchase Agreements for 2023 and Beyond

The evolving economy, climate change and health concerns are forcing real estate buyers and sellers to adapt their standard purchase agreements for a changing world. Agreements may now need: specific provisions to address more intense weather events; general force majeure provisions for entirely unanticipated events; and tweaks to standard provisions to better address the impacts of rising interest rates.

Practical Provisions for Commercial Leases in Light of Changing Times

Over the last two years, lawyers’ standard lease language was tested by natural disasters, the pandemic and drastic changes in the way people work. To adapt to changing times, attorneys should consider incorporating a variety of practical provisions into their corporate leases regarding term, base and additional rent, casualty insurance, premises rights, and force majeure.