The loss of life and property from the recent fires have been devastating to many. We have all been affected in some way. My prayers are with those who have lost family members, homes, businesses and belongings.
Now that the smoke is slowly clearing and people are back in their homes for those who still have homes to go back to the question was asked, “My home (or commercial building for my business) was destroyed in the fire what happens to my lease?”
I also know of an associate who was days away from closing escrow on a home his clients were purchasing, which was completely destroyed in the fire.
What does a tenant, landlord, buyer, and seller do when a property is destroyed?