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BP Settlement Rental Claims and You:
Mind you this is conjecture, it is educated conjecture until the BP Settlement is formally announced
If you have filed before, you can still file BP Settlement Rental Claims. This report will inform you about who will qualify, calculations and recommend your next step.
First of all, this is such a broad category, we should assume that the BP Settlement rental claims apply to vacation rentals, residential rentals AND commercial rentals. You should also take notice that there will be varying degrees of evidence needed to prove each type of BP Settlement rental claims. Consider the order listed as progression in difficulty to prove those BP Settlement rental claims.
First of all, the Settlement Agreement places BP Settlement rental claims into categories based on geographic location in the Gulf Region. The zoning is as follows, including the multipliers applied to each zone:
BP Settlement Rental Claims
Zone A: These BP Settlement rental claims will be within 0.5 miles from the beaches. Their damages caused by the BP Spill will be presumed. BP Settlement rental claims that are commercial rentals that rented to a seafood restaurant, or other industry reliant upon seafood or tourism, will also be presumed to have damages caused by the Spill. However, commercial rentals who did not have this type of reliance will need to show that their losses were caused by the Spill. Speak with your diligent consulting agency about your BP Settlement rental claim to find out how. Your multiplier will be 3.5 and your total claim value will look something like: (2010 Damages) + (2010 Damages X 3.5) = the value of your BP Settlement rental claims.
Zone B: These BP Settlement rental claims are over 0.5 miles from the beach but are within 1.0 miles from the beach. Your multiplier will be dropped to 3.0 for these types of BP Settlement rental claims. Follow the calculation above and you will get an estimate of your total claim value.
Zone C: These BP Settlement rental claims are over 1.0 miles, but less than 2.0 miles. It appears that the multiplier will drop to 2.5 for these BP Settlement rental claims.
Zone D: These BP Settlement rental claims are over 2.0 miles from the beaches and will be the most difficult to prove. You must have had an eviction, abandonment or rental contract terminations shortly after the Spill in order to prove Causation.
BP Settlement Rental Claims
Bare in mind that these calculations for BP Settlement rental claims are a part of the negotiation process and will be subject to change if BP succeeds in changing the terms, or the court approves different terms regarding these BP Settlement rental claims.
Furthermore, assume the BP Settlement rental claims for Commercial Rentals will need to show an actual loss of income, with a possible rise in income in 2011. Commercial Rentals will also need to show Causation, linking their loss of damages to the Spill.
We will help you with your BP Settlement Rental Claims.