Commercial real estate law isn’t the easiest thing in the world to understand, but can lead to huge consequences if you do something wrong. There are real estate laws created by the federal government, state government, and even local regulations and ordinances that must all be followed. Sometimes, the rules all seem to contradict each other, and other times they’re worded so vaguely that your eyes would cross just trying to understand it.
Common Commercial Real Estate Laws You Need to Know
Landlord/Tenant – Landlord/Tenant laws can be especially confusing at times, because they are written to be in favor of two separate parties. This can sometimes cause misunderstandings or contradictions. It’s important that both the landlord and the tenant understand the rules so that they can follow them.
Zoning – Zoning issues often come up when someone is concerned over how a piece of land or property is going to be used. Some places have a variety of laws in place to restrict how you can use certain property, or what kind of taxes you’ll be paying. If you don’t get help, you may end up buying property that cannot legally be used for your business.
Disclosure – Disclosure laws were created to make sure that nobody gets duped into buying property that has problems. Sellers and landlords are required to fully disclose any pertinent information about the property prior to a sale or signing of a lease.
Contract – Another common real estate issue that comes up has to do with contracts. Any problems with a contract could lead to one party being accused of a breach of contract, which is a very serious offense and can lead to hefty consequences.
Commercial real estate is extremely complicated. That’s why it is always a good idea to talk with an experienced real estate or business lawyer before you make any big decisions.
The Monmouth County real estate lawyers with Garland & Mason LLC have years of experience assisting buyers, sellers, landlords, and tenants in every aspect of real estate law.