REPORT

Getting Ahead of Storm Surge, Especially in the Era of Climate Change

One of Bloomberg BNA’s expert authors analyzes how storm surge will effect real estate markets, as climate change will potentially intensify the risk. This report looks into what responsibility do property owners have to warn purchasers or lessees of surge dangers, as well as the role municipalities will play in proactively addressing the risks.    

 

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DESCRIPTION

By J. Wylie Donald 

Do real estate brokers, lenders, or others involved in coastal real estate transactions have a duty to warn purchasers or lessees of the danger to their property from storm surge? As researchers get better at modeling the effects of water pushed ashore from the force of storms, and as the effects of climate change potentially enhance storm surge, the author says property owners and lessees may look to target the professionals that participated in the transaction to make them whole. The author says claims may be brought not only by those damaged by the last storm surge but also by those whose properties are condemned as municipalities proactively address the risk.


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