Property Management
A Connecticut commercial building has a fire. The tenant's lease has a 'casualty clause.' What does this clause typically provide?
AThe tenant must repair the fire damage at their own expense
BIf the building is damaged by casualty (fire, etc.), either or both parties may have the right to terminate the lease, or the landlord must repair within a specified time✓ Correct
CThe tenant must continue paying rent regardless of the damage
DAll casualty losses are the tenant's responsibility
Explanation
A casualty clause (or damage and destruction clause) in a commercial lease provides remedies if the building is damaged by fire or other casualty. Typically, if damage is substantial, either party may terminate; if minor, the landlord must repair within a specified period and rent may abate during repairs.
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