Under federal law, commercial real estate is required to disclose any knowledge of asbestos, lead paint and other environmental hazards. Commercial real estate lawyers are lawyers who specialize in commercial real estate laws for a particular area. Some real estate lawyers deal with both commercial and residential matters. Commercial real estate lawyers may also have knowledge on other related topics, such as. B real estate valuation, contract law and business law. On the other hand, commercial real estate is a complex area of law. Some commercial real estate lawyers focus solely on commercial real estate issues. The main difference between these two specialties of real estate law is that commercial real estate law requires in-depth knowledge of certain key areas specific to companies. Our commercial real estate lawyers in Austin have experience working with local businesses, developers and property management companies to assist them in all aspects of real estate law, from transactions to litigation. Robert Freedman, editor and videographer of RELTOR magazine, says any interested party should always consult a qualified real estate attorney if they have questions about the laws that govern the ownership, sale and use of real estate in their state.
Unlike a residential landlord-tenant relationship, where the tenant enjoys many protections, the law considers a commercial lease to be between two business units in order to make a profit. The law assumes that a commercial tenant is demanding and equal to negotiate rental terms. In Colorado, there are no laws for commercial real estate regarding the maximum duration of a lease, the amount of rent that can be calculated, the rate and/or timing of rent increases or allowances for tenants to terminate the commercial lease prematurely. For residential leases, where the deposit is deposited and when it must be returned to the tenant, is regulated by law. However, there is no parallel legal system that regulates the obligations of commercial owners to return deposits. Commercial real estate lawyers can perform a variety of tasks, such as. B law research, assistance in negotiating contracts and representing clients before the courts. They can also help with questions regarding the following points: Zoning is how local governments communicate what type of development is allowed on a particular property. In Colorado, county governments pass land use and development regulations to balance the safety and well-being of the community with the rights of private landowners. Zoning by-laws apply to residential and commercial properties, but distinguish between different types of real estate and how they are used. In general, zoning divides land for use as residential, commercial/industrial and agricultural land. We are a full-service commercial real estate company that can help you with a variety of real estate issues, from buying raw land to selling a developed property and everything in between.
We can help you support your project from start to finish. A commercial real estate lawyer is familiar with drafting, reviewing, and negotiating commercial leases for businesses. If you`re a landlord, it`s important to use a professionally designed lease rather than standard versions that can be riddled with bugs. For businesses that rent out real estate, it`s always a good idea to ask a lawyer to review a lease before signing it. While the majority of contracts in the United States fall under the Uniform Commercial Code, the sale of real estate generally falls under the Common Law of Contracts. The common law is very different from the UCC and, as such, according to Brad Denton, “the common law follows the `Mirror Image Rule`, which requires that an acceptance be an accurate reflection of the terms of the offer in order to be a legally recognized acceptance. If changes are made to the offer, no acceptance can be made because the offer has been modified. This then becomes a rejection and a counter-offer. You want your investment covered – that`s why you have insurance for the commercial property you`re renting. It covers your property and (to some extent) your tenant`s property in case some accidents occur.
However, the same insurance policy is not meant to protect your tenant or the vast majority of their belongings. In fact, they need their own business insurance to ensure that their property (e.B equipment) is covered and to protect them from liability lawsuits. Although property rights and land use are similar in the concept of zoning, these issues involve environmental regulations and laws, disputes with neighboring landowners, and obtaining permits. Sometimes you may get involved in a lawsuit in cases involving disputes, in which case your commercial real estate attorney can negotiate a settlement or represent your interests in court. You should never try to navigate through the tricky laws and local regulations that govern commercial real estate leasing. There are simply far too many variables at the federal, state, and local levels for a beginner to follow. The last thing you want to do is enter into what you believe to be a legally binding contract, only to find that you are the victim of a legal loophole that ultimately causes you to lose your investment. Even worse, illegal transactions could put you in a bad position with local and federal law enforcement.
Always ask for advice. The purchase of commercial real estate is a significant investment for an individual and an entity. While some stores may seem simple, in truth, they never are. Tracking business transactions can become very complex and requires attention to detail that a real estate lawyer is familiar with. Kelly Legal Group is a leading provider of commercial real estate law services to its clients in Austin and the surrounding area. Contact us today at 512-505-0053 or make an appointment on our website. While in Colorado, sellers of residential properties have an affirmative obligation to disclose known defects that are both slight and difficult to see, sellers of commercial properties generally have no such obligation as long as buyers are able to carefully inspect the property. While sellers should not fraudulently conceal essential facts about the property, buyers of a business transaction are required to exercise due diligence and assess the terms of ownership and transaction for potential problems and liabilities. Here are some of the specialized services that real estate lawyers offer to their clients.